我国企业对外直接投资是促进还是挤出国内投资——影响机理与实证检验

发布时间：2018-05-31 19:22

本文选题：企业对外直接投资 + 国内投资　；参考：《国际商务(对外经济贸易大学学报)》2014年06期

【摘要】：企业对外直接投资的快速增长已构成我国外经贸发展的重要因素,也将逐步影响国内经济发展的各个方面。本文研究我国企业对外直接投资对国内投资的影响,首先通过理论机理将影响过程分解为资金转移途径和生产转移途径,并表明资金转移途径将挤出国内投资,且这种效应的强弱取决于金融发展程度;生产转移途径的影响则取决于投资动机,横向动机企业对外直接投资挤出了国内投资,而纵向动机企业对外直接投资则促进了国内投资。进一步地,本文的实证研究表明我国企业对外直接投资在总体上能促进国内投资,金融发展则在促进过程中起到了催化剂的作用;更为深入地发现较小规模的企业对外直接投资会挤出国内投资,较大规模的企业对外直接投资才能促进国内投资,这是因为生产转移的正向效应只有在企业对外直接投资达到一定规模后才能显现。
[Abstract]:The rapid growth of foreign direct investment (FDI) of enterprises has become an important factor in the development of China's foreign trade and will gradually affect all aspects of domestic economic development. This paper studies the influence of foreign direct investment (FDI) of Chinese enterprises on domestic investment. Firstly, the influence process is divided into capital transfer path and production transfer way through theoretical mechanism, and it shows that capital transfer channel will squeeze out domestic investment. The strength of this effect depends on the degree of financial development, and the influence of the way of production transfer depends on the motivation of investment. And the vertical motive enterprise outward direct investment has promoted the domestic investment. Further, the empirical study in this paper shows that OFDI of Chinese enterprises can promote domestic investment, while financial development plays a catalytic role in the promotion process. Find out more deeply that foreign direct investment of smaller enterprises will crowd out domestic investment, and that only foreign direct investment of larger enterprises can promote domestic investment. This is because the positive effect of production transfer can only be seen after the OFDI reaches a certain scale.
【作者单位】：温州大学商学院;中国船舶重工集团公司第七一二研究所;
【分类号】：F279.2;F125;F224

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