行政审批简化与我国对外直接投资增长——基于核准权下放试点的准自然实验实证研究  

Simplification of the Administrative Approval and the Growth of China's Outward Foreign Direct Investment--An Empirical Study Based on the Quasi-natural Experiment of Decentralization of Approval Authority

作　　者：曾守桢[1,2] 余官胜 ZENG Shouzhen;YU Guansheng

机构地区：[1]宁波大学商学院 [2]复旦大学管理学院 [3]福建师范大学经济学院

出　　处：《国际贸易问题》2020年第4期19-34,共16页Journal of International Trade

基　　金：国家社会科学基金“国际投资保护背景下我国对外直接投资质量与安全提升研究”(19BJL121)。

摘　　要：行政审批简化降低了对外直接投资的固定成本,提高了企业从事对外直接投资的收益,通过降低生产率门槛促使更多企业以对外直接投资的方式替代出口贸易进行国际化。本文在构建理论框架阐述该作用机理的基础上展开实证检验。以国家发改委于2012年颁布的《关于进一步简化境外投资项目管理程序试点工作的通知》为准自然实验,本文构建双重差分模型回归,发现核准权限的下放能同时增加对外直接投资占GDP的比重以及对外直接投资项目数,有效地验证了行政审批简化产生的对外直接投资促进作用。在政策上,本文的研究意味着进一步坚持行政审批方式的简化是继续推动对外直接投资增长的有效方式。With the implementation of the“going out”strategy,the process of administrative approval for foreign direct investment(OFDI)has been increasingly simplified in China,which provides great convenience for enterprises to carry out OFDI.In addition,the simplification of administrative approval not only reduces the fixed cost and increases the profit income of OFDI for the relative enterprises,but also promotes more enterprises to internationalize by reducing the threshold of productivity.On the basis of constructing the theoretical framework,this paper made an empirical test on the above mechanism.Based on the Notice on Further Simplifying the Pilot Work of the Overseas Investment Project Management Program issued by the National Development and Reform Commission in 2012,and utilizing the difference-in-difference(DID)model regression to carry out analysis,this paper finds that the decentralization of approval authority can increase the proportion of OFDI in GDP and the number of OFDI projects,thus the effect of simplification of administrative on promoting OFDI has been effectively verified.From a policy point of view,the results of this study mean that further simplification of administrative approval is an effective way to continue to promote the growth of OFDI.

关 键 词：行政审批简化 对外直接投资 双重差分 准自然实验 

分 类 号：F831.7[经济管理—金融学]