东道国治理水平对中国对外直接投资区位选择的影响--基于面板数据模型的实证研究  

The Effects of Governance of Host Countries on Chinese Outward Foreign Direct Investment——An Empirical Study Based on Panel Data

作　　者：陈松[1] 刘海云[1] 

机构地区：[1]华中科技大学经济学院博士研究生,武汉市430074

出　　处：《经济与管理研究》2012年第6期71-78,共8页Research on Economics and Management

基　　金：国家社会科学基金项目“资本存量、财产性收入与居民消费的路径演化研究”(08BJL015);河南省政府决策研究招标课题“开放经济下的河南省出口竞争力研究”(B148);河南省教育厅人文社会科学研究项目“河南省地区间对外贸易差异的比较研究”(2010-QN-017)

摘　　要：本文利用世界银行全球治理指标,研究东道国治理水平对中国对外直接投资区位选择的影响。文章选取75个东道国2007～2009年的面板数据进行计量分析,研究结果发现,在其他变量得到控制的前提下,中国对外直接投资倾向流入治理水平较低的国家,对外投资风险较大。中国对外投资与东道国市场规模呈显著负相关,符合邓宁、韦尔斯等对发展中国家对外投资区位选择的研究。中国对外直接投资与出口呈显著正相关,表明出口是投资的先导,中国企业国际化战略遵循从出口到直接投资的发展路径。Using the latest Worldwide Governance Indicators released by World Bank, this paper studies the effects of governance of host countries on Chinese outward fore 2007 to 2009, it is found that by controlling other vari ign abl direct investment and using the panel data of 75 countries from es, Chinese outward direct investment is associated with low levels of governance in host countries that leads to high risk investment. Chinese outward investment is negatively correlated with market size of host countries, which is in line with the study of Dunning and Wells on FDI location choice of developing countries. Chinese outward investment is significantly correlated with exports indicates that exports are the forerunner of outward investment and that the path of the international strategy of Chinese enterprises is from exporting to direct invest- ment

关 键 词：中国对外直接投资 区位选择 治理水平 

分 类 号：F740[经济管理—国际贸易]