中国对外直接投资效率、投资风险与东道国制度——来自“一带一路”沿线投资的经验证据  

The Efficiency of China's Outward FDI, Investment Risk and the Host Country Institution——An Empirical Analysis Based on “One Belt One Road” Countries

作　　者：崔娜[1] 柳春[1] 胡春田[2] 

机构地区：[1]西安交通大学金禾经济研究中心,陕西西安710049 [2]"中国文化大学"社会科学学院,台湾台北11114

出　　处：《山西财经大学学报》2017年第4期27-38,共12页Journal of Shanxi University of Finance and Economics

基　　金：国家社会科学基金项目"产业升级背景下制度质量对我国利用外资优势和效益的影响研究"(13XJY001);西安交通大学"211工程"三期项目(23071072)

摘　　要：以2006-2014年中国对"一带一路"沿线57个国家的投资经验为样本,利用随机前沿模型,考察了中国的FDI投资效率水平以及东道国制度对投资效率和投资风险的影响。研究发现:中国对部分国家的FDI投资效率较低,效率提升的空间较大,但对市场规模较大及经济发展水平较低国家的投资效率较高;东道国产权制度保障有效、政治稳定以及区域贸易协定的签订有利于中国对外直接投资效率的提升,同时也有利于投资风险的降低。In this study,we export China＇s outward FDI investment efficiency and the impact of host countries＇ institutions on outward FDI investment efficiency and investment risks using the Stochastic Frontier Analysis,taking 57 countries of ＂one belt one road＂from 2006 to 2014 as a sample. Our findings show that the average level of investment efficiency index is very low;secondly,the level of investment efficiency is higher among countries where the market size is larger or the GDP per capita is lower. What＇s more,the results imply that efficient property rights,political stability,and Regional Trade Agreement can not only improve export efficiency,but also lower trade uncertainty.

关 键 词：FDI 制度 投资效率 投资风险 

分 类 号：F832.48[经济管理—金融学]