为什么低效率的企业会选择“走出去”——基于动态效率的分析视角  

Why Do the Inefficient Companies Choose to Go Abroad: A View Angle of Dynamic Efficiency

作　　者：强永昌[1] 符磊[1] 

机构地区：[1]复旦大学经济学院

出　　处：《南方经济》2013年第5期23-37,共15页South China Journal of Economics

基　　金：复旦大学"985工程"三期重大项目(项目批号:2011SHKXZD002)的资助

摘　　要：文章将外向直接投资与逆向技术溢出纳入企业的异质性研究框架进行分析。考虑逆向技术溢出对生产效率的促进、企业的动态均衡、跨期利润最大化等问题,并从比较静态和动态两个角度进行了分析。静态分析表明,企业为了有效地弥补国际化经营带来的附加成本,却是遵循了新新贸易理论的生产率标准,即生产率最高的企业进行OFDI,次之企业对外出口,再次之企业留在国内;而动态分析结果表明,国际化经营会给企业带来效率与成本变化的综合效应,而谋取该效应的最大化也就成了企业动态化经营决策标准。基于这一动态决策原则,我们发现,与发达国家不同的是,发展中和新兴工业化国家对外直接投资的决策明显地受到这一动态效率的影响;即使最初的生产效率较低,也会根据跨期最大化利润原则,因可能获得足够的效率和利润激励而选择国际化经营。This article puts the OFDI and reverse spillover into the research frame of enterprise heterogeneity. It mainly considers the issues like the reverse spillover＇ s promotion to productivity, enterprise＇ s dynamic equilibrium and multi - period profit - maximization which are analyzed from two perspectives. The static analysis presents that companies with highest productivity will launch OFDI, companies with middle - level productivity will export products and companies with lowest productivity can only supply domestic market. The dynamic analysis presents companies＇ internationalization will get the combined effects on productivity and wage. Different ways of internationalization will have different effects. Companies will choose the favorabre one. The conclusion presents something different from the developed countries that developing and new industrial countries in a low productivity level can invest abroad to get the multi -period profit - maximization.

关 键 词：逆向技术溢出 生产率 外向直接投资 

分 类 号：F061.3[经济管理—政治经济学]