中国企业OFDI和企业生产率:来自选择效应还是学习效应  

The Relationship Between Chinese Firm′s OFDI and Firm Productivity:Self-selection Effect or Learning Effect

作　　者：王广宇[1] 张倩肖[1] Wang Guangyu;Zhang Qianxiao(School of Economics and Finance, Xi＇an Jiaotong University, Xi＇an 710061, China)

机构地区：[1]西安交通大学经济与金融学院,710061

出　　处：《南开经济研究》2018年第1期176-192,F0003,共18页Nankai Economic Studies

基　　金：陕西省西安市社会科学重点项目"丝绸之路经济带建设背景下西安企业走出去战略研究"(15Z63);陕西省科技厅软科学项目"科技创新引领带动产业转型升级研究"(2017KRM045)的资助

摘　　要：本文使用1999—2007年中国工业企业数据库和商务部境外直接投资企业名录数据库匹配后的样本数据,在将OFDI企业状态进行分类的基础上对中国OFDI企业是否存在自我选择效应和学习效应进行检验。首先使用随机占优的KS非参数检验方法对不同经营状态的OFDI企业进行检验,验证了两种效应的存在。接着使用系统GMM方法对样本数据分组进行回归实证检验并得到以下结论:第一,从样本总体来看,两种效应同时存在,但自我选择效应更加显著,说明生产率高的企业会自主选择境外直接投资来拓展国际市场和提高企业竞争力。企业的学习效应更容易受到地区、行业等因素的影响而表现得有所差异。第二,分地区来看,东南、环渤海地区的OFDI企业学习效应要显著强于全国其他地区。第三,分行业来看,资本密集的行业表现出的学习效应比资源和劳动密集型行业更强。第四,分企业性质来看,民营企业OFDI比重逐年增加,经营更加灵活,学习效应比国有企业更为显著。This paper use 1999-2007 OFDI enterprise database, which is matched between Chinese industrial enterprise database and the foreign direct investment enterprise directory database of the Ministry of Commerce, to inspect whether self-selection effect or learning effect of China OFDI enterprises exiting. The paper uses the stochastic dominance KS nonparametric test methods for OFDI enterprises of different operating states in order to verify the existence of two effects. Then, this paper uses the system GMM empirical method and gets the following conclusions： First, in terms of the overall sample, the two effects exist simultaneously, but the self-selection effect is more significant than the learning effect, which shows high productivity enterprises will choose OFDI to expand the international market and improve their competitiveness. While, learning effect is more vulnerable to many other factors, such as region, industry and ownership, and shows different manifestations. Second, learning effects of OFDI enterprises locating in the southeast region and in the Bo Sea region are significantly stronger than the rest regions. Third, learning effects of OFDI enterprises of capital-intensive industries exhibit stronger than resource-intensive and labor-intensive industries. Fourth, learning effects of private enterprises are more significant than the state-owned enterprises, because of their increased OFDI share and more flexible operation.

关 键 词：对外直接投资企业 企业生产率 自我选择效应 学习效应 

分 类 号：F125[经济管理—世界经济] F279.2