“一带一路”倡议与中国对外直接投资——基于双重差分法的实证分析  

The B&R initiative and Chinese OFDI——Empirical analysis based on DID method

作　　者：张鹏飞 谢识予[1,2] Zhang Pengfei;Xie Shiyu

机构地区：[1]复旦大学经济学院 [2]复旦大学博弈论与数量经济学研究中心

出　　处：《投资研究》2020年第11期88-95,共8页Review of Investment Studies

摘　　要：基于“中国全球投资跟踪”微观数据库,采用双重差分(DID)的方法分析“一带一路”倡议对中国对外直接投资(OFDI)的影响及其作用机制。实证结果发现,“一带一路”倡议下的国际政治合作能显著增加中国企业的对外直接投资。进一步机制分析发现,“一带一路”倡议能减少中国企业面临的政治风险,增加中国的对外直接投资。加深对中国企业海外投资决定因素的理解,不仅有利于东道国吸引外资,还有利于中国企业“走出去”。Based on China Global Investment Tracker database,the paper analyzes the impact of the Belt and Road Initiative on China's Outward Foreign Direct Investment(OFDI)and its mechanism by using difference in difference(DID)method.The empirical results show that:The Belt and Road Initiative can significantly increase China's out foreign direct investment.Mechanism analysis shows that the Belt and Road Initiative can reduce the political risks,thereby promoting Chinese firm’s overseas investment.A deeper understanding of the determinants of Chinese enterprises'overseas investment is not only conducive to the host country's attracting foreign investment,but also conducive to the“going out”of Chinese enterprises.

关 键 词：“一带一路”倡议 对外直接投资 双重差分 国际政治合作 

分 类 号：F125[经济管理—世界经济]