资本扭曲影响中国对外直接投资的效应研究  

The Effect of Capital Distortion on China’s Foreign Direct Investment

作　　者：岑亮瑜 朱顺林[1] CEN Liang-yu;ZHU Shun-lin(School of Business,Ningbo University,Ningbo 315000,China)

机构地区：[1]宁波大学商学院

出　　处：《科技与经济》2019年第4期91-95,共5页Science & Technology and Economy

基　　金：浙江省哲学社会科学重大规划课题——“引进外资与对外投资战略协调机制和实现路径研究”(项目编号:16YSXK05ZD-2YB;项目负责人:朱顺林)成果之一;浙江省科学技术厅软科学项目——“民营企业海外并购型‘走出去’反哺本土产业技术创新路径及对策研究”(项目编号:2019C35003;项目负责人:朱顺林)成果之一

摘　　要：基于2003-2016年29个省份的面板数据,首先测度了各省份资本扭曲程度,并运用GMM动态面板模型,实证检验了资本扭曲对地区对外直接投资的影响。研究发现;一是中国存在资本扭曲现象,且不同区域差异显著;二是区域对外直接投资规模与区域资本扭曲正相关,从东部、中部和西部区域来看,发现东部省份资本扭曲对对外直接投资的影响更为显著,而中部和西部地区的影响并不明显。Based on the panel data of 29 provinces from 2003 to 2016,the degree of capital distortion in each province was first measured,and the GMM dynamic panel model was used to empirically test the impact of capital distortion on regional foreign direct investment. The study found that: first,there is capital distortion in China,and the differences in different regions are significant;second,the scale of regional foreign direct investment is negatively correlated with regional capital distortion. From the eastern,central and western regions,the capital distortions of the eastern provinces have significant influence on foreign direct investment,while the impact in the central and western regions is not obvious.

关 键 词：资本扭曲 对外直接投资 动态面板模型 

分 类 号：F125[经济管理—世界经济]