海外移民网络、交易成本与外向型直接投资  

International Emigration Network,Transaction Cost and Outward FDI

作　　者：范兆斌[1,2] 杨俊[1] 

机构地区：[1]暨南大学国际商学院 [2]暨南大学国际金融与商务研究所

出　　处：《财贸经济》2015年第4期96-108,共13页Finance & Trade Economics

基　　金：国家社会科学基金项目“国际人口迁移、人力资本结构与中等收入陷阱研究”(13BRK013);广东省国家级重大培育项目“经济国际化的动态效应与多元稳态经济增长路径研究”(2014GWXM004);教育部人文社会科学重点研究基地项目“华侨华人在新时期中国经济国际化战略中的作用研究”(HQHR201401)

摘　　要：随着全球人口迁移与直接投资的迅速发展,国际移民网络与国际直接投资的关系近年来引起越来越多文献的关注,不过鲜有文献研究国际移民网络对于移民来源国外向型直接投资的影响。本文首先在异质性企业框架下,以交易成本理论为基础,构建模型研究国际移民网络影响移民来源国外向型直接投资的微观机制。研究显示,在正式制度不完善的条件下,海外移民网络的内部治理机制有助于提高国际交易合约的执行效率,降低直接投资活动中的交易成本,从而促进移民来源国外向型直接投资的发展。然后,本文运用2003—2012年中国在24个国家海外华人和直接投资的数据,以引力模型为基础检验理论模型的假说,结果证实海外移民网络对中国的外向型直接投资具有显著的促进作用,而且地理距离越近的移民网络对于直接投资的促进作用越明显。With the fast development of international migration and direct investment, the relations between international migration network and FDI have been examined by growing literatures in recent years. However, few literatures examine how international emigration network influences outward FDI in origins of immigrants. From the perspective of transaction cost, this paper first builds a model to examine how international emigration network influences outward FDI of origins of immigrants in a context of heterogeneous firms. The results show that due to the failure of formal institutions, the internal business governance of international emigration network can promote the executive efficiency of international business contract and reduce the transaction cost of undertaking outward FDI. Therefore,outward FDI in origins of immigrants is accordingly stimulated. Using China＇s data of overseas Chinese and China＇s outward FDI in 24 countries from 2003 to 2012, this paper tests these predictions derived from the theoretical model on the basis of gravity equation. The empirical results show that the overseas Chinese network significantly facilitates China＇s outward FDI, and the closer to China the overseas Chinese network is,the more significantly it facilitates China＇s outward FDI.

关 键 词：海外移民网络 交易成本 企业异质性 外向型直接投资 

分 类 号：F125[经济管理—世界经济]