投资风险是否影响了中国对非洲直接投资——基于投资动机视角

发布时间：2018-05-01 09:41

本文选题：投资动机 + 投资风险　；参考：《经济问题》2017年11期

【摘要】：基于2003-2014年中国对非洲36个国家投资的面板数据,首先,分析了中国对非洲整体投资动机;其次,利用聚类分析法,将中非投资划分为市场寻求型投资和资源寻求型投资;再次,基于全样本数据的投资风险实证结果表明,中国对非洲直接投资整体上对政治风险的态度是模糊的,表现出偏好与规避并存的现象。基于分样本数据的实证结果表明,市场寻求型投资对政治风险的偏好相对于整体投资更弱,且表现出弱经济风险规避特征;资源寻求型投资表现出经济风险偏好、政治风险偏好和文化风险规避的特征;对非洲的整体投资和市场寻求型投资均具有显著的投资集聚效应;整体投资、市场寻求型投资和资源寻求型投资均表现出"贸易牵引效应"。最后提出相应的政策建议。
[Abstract]:Based on panel data of China's investment in 36 countries in Africa from 2003 to 2014, firstly, it analyzes the motivation of Chinese investment in Africa as a whole; secondly, it divides China-Africa investment into market-seeking investment and resource-seeking investment by cluster analysis. The empirical results of investment risk based on full sample data show that China's attitude towards political risk in Africa as a whole is vague, showing the coexistence of preference and avoidance. The empirical results based on sample data show that the preference for political risk of market seeking investment is weaker than that of overall investment, and it shows the characteristics of weak economic risk avoidance, while resource seeking investment shows economic risk preference. Characteristics of political risk preference and cultural risk aversion; significant agglomeration of investment in Africa as a whole and market-seeking investment; overall investment; Market-seeking investment and resource-seeking investment both show "trade traction effect". Finally, the corresponding policy recommendations are put forward.
【作者单位】：安徽财经大学国际经济贸易学院;
【基金】：教育部人文社会科学项目“制度性交易成本对中国企业海外投资的影响机制及政策研究”(17YJCGJW001)
【分类号】：F125;F14

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