社会保障税、投资动机与海外投资  

Social Security Tax,Investment Motivation and Foreign Direct Investment

作　　者：王素荣[1] 袁芳 Wang Surong;Yuan Fang(Business School,University of International Business and Economics,Beijing 100029,China)

机构地区：[1]对外经济贸易大学国际商学院,北京100029

出　　处：《技术经济》2021年第6期112-120,共9页Journal of Technology Economics

摘　　要：在中国国外投资流入量增速放缓的背景下,如何应对劳动力成本的快速增长造成的东道国优势下降是亟待研究的问题。本文使用134个国家2008-2018年11年的面板数据,采用双向固定效应模型,实证考察了企业社会保障税对海外直接投资的影响。研究结果表明,企业社会保障税率对外国直接投资产生负向影响;企业社会保障税对外国直接投资的负向影响受投资动机的调节作用影响,在生产要素获取动机、非自然资源获取动机与非技术获取动机国家样本中更为显著;企业社会保障税对外国直接投资的负向影响存在经济体和地域差异,在G20国家、亚洲、美洲及非洲国家样本中更为显著。基于实证研究结果,本文提出了基于企业社会保障税率的促进中国海外投资流入的相关政策建议。Under the background of the slow growth of China’s foreign direct investment inflows,how to cope with the declining host country’s advantage caused by the rapid growth of labor costs is an urgent issue to be studied.A 11‑year equilibrium panel data of 134 countries from 2008 to 2018 is used and two‑way fixed effect model is adopted to examine the impact of corporate social security tax on foreign direct investment.The empirical results show that corporate social security tax rate has a negative impact on FDI.The negative impact is moderated by investment motivation,which means the negative impact is only significant in the sample of countries with factors of production acquisition motivation,non‑natural resource acquisition motivation and non‑technological acquisition motivation.Further,the negative impact of corporate social security tax on FDI varies across economies and geographies,which is only significant in the sample of G20,Asian,American and African countries.Based on the results of empirical research,the relevant policy recommendations and suggestions are put forward to promote the inflow of FDI in China based on the decrease of corporate social security tax rate or tax subsidy.

关 键 词：社会保障税 投资动机 海外投资 

分 类 号：F753[经济管理—国际贸易] F757[经济管理—产业经济]