FDI与区域资本流动:抑制还是促进  

Relationship between FDI and Domestic Regional Capital Flow

作　　者：王喜[1] 赵增耀[2] 

机构地区：[1]嘉兴学院商学院 [2]苏州大学商学院

出　　处：《国际贸易问题》2014年第4期136-143,共8页Journal of International Trade

基　　金：国家哲学社会科学基金项目"中小企业集群互助担保融资及违约治理研究"(批准号:13BGL048);国家自然科学基金项目"FDI在所嵌入产业集群中的知识转移和溢出效应研究"(71073107);浙江省软科学项目"浙江科技型中小企业商业信用融资能力提升研究"(2013C35037)

摘　　要：本文从资本效应、市场效应和制度效应三方面分析了FDI影响区域资本流动的机理,并结合自由资本模型,构建了一个包含FDI的区域资本流动模型。为了验证相关结论,本文利用30个省(自治区、直辖市)1995-2011年的面板数据分析了FDI对中国区域资本流动的实际影响,实证结果表明,FDI对中国区域资本流动产生了抑制作用,这种作用通过资本供给拥挤效应和市场规模扩大效应实现。FDI对东中西部地区区域资本流动的抑制作用存在一定差异,中部地区负面影响最严重,西部次之,东部最低。文章还发现,提高劳动生产率,降低非税负担,有利于促进区域资本流入。The paper inspects the mechanism of FDI influencing regional capi- tal flow from three aspects including capital effects, market effects and institution effects. A regional capital flow model encompassing FDI is established in this paper. Using panel data covering 30 provinces （or autonomous regions or munici- pality cities） from year 1995 to 2011, this paper analyzes the actual influence of FDI on China＇ s regional capital flow. The empirical results indicate that FDI has different degrees of restraining effects on China＇ s eastern, central and west- ern regions, with the impact severest on central regions followed by that on west- ern regions and lastly eastern regions. The influence is mainly realized through the crowded effect of capital supply and market scale expansion. Besides, the pa- per also finds that increases in labor productivity and decreases in non-taxation burdens reduction would stimulate regional capital inflow.

关 键 词：资本流动 FDI 劳动生产率 非税负担 

分 类 号：F821.5[经济管理—财政学]