成本压力、吸收能力与技术获取型OFDI  

Cost Pressure,Absorptive Capacity and Chinese Technology-Seeking OFDI

作　　者：王碧珺[1] 李冉 张明[1] Wang Bijun;Li Ran;Zhang Ming

机构地区：[1]中国社会科学院世界经济与政治研究所 [2]国际清算银行亚太区代表处

出　　处：《世界经济》2018年第4期99-123,共25页The Journal of World Economy

基　　金：中国社会科学院世界经济与政治研究所重点课题"中国对外直接投资与经济转型升级";教育部哲学社会科学研究重大课题攻关项目"中国资本账户开放进程安排和风险防范研究"(14JZD016)的资助

摘　　要：本文利用国家发改委核准对外直接投资项目列表,结合企业信息披露构造项目层面数据集,初步识别了中国技术获取型OFDI,并通过理论模型推导、比较静态分析及均衡策略空间模拟发现,发展中国家企业OFDI决策是技术获取型需求和国内上升成本之间相互作用的结果,同时也与企业对技术的吸收能力有关。进一步的经验研究证实了理论预测,即随着国内平均工资增加,企业OFDI的可能性显著增加;企业实力和行业利润率对技术获取型OFDI有显著正向影响;国有力量越小,企业进行技术获取型OFDI的可能性也越大;当与东道国技术差距较小时,技术差距扩大对OFDI有促进作用;但当技术差距扩大到一定程度时,由于企业吸收能力降低,该促进作用将减弱。This paper first identifies technology-seeking Chinese OFDI based on the matched data of approved OFDI lists from the National Development and Reform Commission(NDRC)and the disclosure of firms’information.Through theoretical model deduction,comparative static analysis and equilibrium strategy spatial simulation,it is found that the OFDI decision-making in developing countries is the result of interaction between technology acquisition demand and domestic rising costs,and is also related to the technology absorptive capacity of enterprises.Further empirical tests confirm the theoretical predictions:With the increase of average domestic wages,the possibility of OFDI by enterprises significantly increases;Enterprises strength and the industrial rate of profit have a significant positive effect on technology-seeking OFDI;The lower the state-owned power,the more likely it is for enterprises to make technology-seeking OFDI;When the technology gap with the host country is small,the expansion of technology gap has a promoting effect on OFDI,but on the other hand a level too high in the technology gap lowers firms OFDI intentions due to inhibition in their absorptive capacity.

关 键 词：对外直接投资 发展中国家 技术获取 吸收能力 

分 类 号：F21[经济管理—国民经济] F23