中国企业投资东盟是否提高了全要素生产率  

Has China’s Investment in ASEAN Promoted Total Factor Productivity

作　　者：徐芳燕[1] 曾紫幸 刘巍[3] XU Fang-yan;ZENG Zi-xing;LIU Wei

机构地区：[1]广东外语外贸大学经济系 [2]法国雷恩高等商学院 [3]广东外语外贸大学中国计量经济史研究中心

出　　处：《国际经贸探索》2021年第5期20-34,共15页International Economics and Trade Research

基　　金：广东省普通高校特色创新项目(2020WTSCX018)。

摘　　要：中国经济增速放缓,企业利用对外投资提高全要素生产率是保持中国经济稳定发展的新动力。基于手工搜集整理的2007~2018年企业微观面板数据新视角,采用倾向得分匹配方法(PSM)评估检验中国企业投资东盟国家与企业全要素生产率的因果效应。研究发现:中国企业投资东盟显著提升了全要素生产率,但这种驱动效应并非简单的线性关系,而是呈倒U型关系;作用路径分析发现是通过提高企业的创新能力提升全要素生产率的;企业异质性分析发现对规模小的企业和非国有企业的促进作用强于规模大的企业以及国有企业。稳健性检验也验证了结论的可靠性,最后给出政策建议。China’s economic growth is slowing down and the enterprises’use of foreign investment to increase total factor productivity becomes a new driving force for China’s stable economic development.From the new perspective of the enterprises’micro panel data based on manual collection from 2007 to 2018,this paper adopts the method of propensity score matching(PSM)to evaluate and test the causal effect of China’s enterprises’investment in ASEAN countries on total factor productivity.The research reveals that the investment of China’s enterprises in ASEAN Free Trade Area significantly imporves total factor productivity,but this driving effect is not a simple linear relationship,but an inverted U-shaped relationship.Besides,the path analysis indicates that total factor productivity can be promoted by the improvement of the enterprises’innovation ability.The enterprise heterogeneity analysis shows that the promotion effect on small-scale enterprises and non-state-owned enterprises is stronger than that on large-scale enterprises and state-owned enterprises.The reliability of the conclusion is verified by the robustness test and finally some policy suggestions are given.

关 键 词：对外投资 东盟 倾向得分匹配 全要素生产率 

分 类 号：F743[经济管理—国际贸易]