东道国主权信用与中国对外直接投资——基于中国与全球ODI国别面板数据的实证比较  

Host Country's Sovereign Credit and Chinese ODI——An Empirical Comparison Based on the Country-wise Panel Data of Chinese ODI and World ODI

作　　者：蓝茵茵[1,2] 刘莉萍[3] 

机构地区：[1]中南大学商学院,湖南长沙410083 [2]长沙理工大学美国问题研究中心,湖南长沙4100044 [3]夏威夷大学茂宜分校,夏威夷96732

出　　处：《湖南大学学报（社会科学版）》2015年第6期62-69,共8页Journal of Hunan University(Social Sciences)

基　　金：国家社会科学基金项目(13BGJ039);国家社会科学基金后期资助项目(14FJL010);长沙理工大学美国问题研究中心基金项目(15CASCL08)

摘　　要：基于2003-2012年中国与全球在42国对外直接投资ODI面板数据,分别研究发达与发展中东道国主权信用对中国ODI的影响,并与全球ODI所受影响相比较得出结论:因主权信用下降、遭遇全球ODI流出的发达国家反而越来越吸引中国ODI,对发达地区市场与战略资产的寻求驱动我国企业在此时增持资产;中国与全球ODI均规避主权信用下降的发展中国家,我国企业也并不偏好主权信用下降的自然资源丰富国。The effects of Sovereign Credit of developed-hosts and developing-hosts respectively on Chinese ODI are investigated through empirical comparison with Chinese ODI and World ODI panel data from the year 2003 to 2012 in 42 countries, and the results show： The downgrades of developed hosts＇ Sovereign Credit and consequent outflows of world ODI dramatically attract more and more Chinese ODI, as Chinese investors aiming at developed-market and strategic-asset try to expand.holdings of assets in the highly indebted developed countries;Both Chinese ODI and World ODI avoid to invest in the developing hosts with downgraded credit, and Chinese investors show no interest in developing hosts with both downgraded credit and rich natural-resources either.

关 键 词：中国对外直接投资 东道国主权信用 全球直接投资 实证分析 

分 类 号：F832.48[经济管理—金融学]