中国对美直接投资影响因素的实证研究  

An Empirical Analysis on the Influence Factors of China's Direct Investment in the United States

作　　者：彭博[1] 

机构地区：[1]中国政法大学商学院,北京100088

出　　处：《技术经济与管理研究》2013年第6期84-88,共5页Journal of Technical Economics & Management

摘　　要：近年来,伴随着中国经济实力的不断增强和"走出去"战略的实施,中国对美直接投资呈显著上升趋势。本文利用统计数据对中国对美直接投资的影响因素进行实证研究,并研究其经济学原理,指出我国人均国民收入增长显著促进了对美直接投资,亦符合邓宁的投资发展阶段论。人民币升值增加了中国企业的海外购买力,促进了对美直接投资的增加;美国实际利率高于中国,而美国对华直接投资规模远大于中国对美直接投资,说明中国对美直接投资具有独特性,资本账户管制抑制了中国企业对美投资的需求。随着中国经济实力的增强和政府对资金"宽进严出"政策的放宽,中国对美直接投资将不断扩大。最后,本文提出了中国企业扩大对美直接投资的对策建议。In recent years,along with China＇s growing economic strength and the implementation of ＂going out＂strategy,there has a significant growth in China＇s direct investment in the US.This paper uses a multiple linear regression analysis on influence factors of China＇s direct investment in the US and the principle of economics behind.Results show that China＇s per capita national income growth has played a remarkable role,in conformity with the IDP theory,the appreciation of RMB has increased the purchasing power of Chinese Enterprises,the real interest rates in the US are higher than China and the size of direct investment from the US to China is much larger than that of China＇s direct investment in the US.This phenomenon indicates that the China＇s direct investment in the US is unique.Capital account control has restrained the demand of investment in the US.With China＇s economic strength enhancement and relaxation of policy on overseas investment,China＇s direct investment in the United States will continue to expand.Finally,on the basis of the above analysis,this paper puts forward suggestions on future development.

关 键 词：人民币升值 利率差异 跨国公司 直接投资 

分 类 号：F832.6[经济管理—金融学]