互联网发展对FDI的影响及机制研究  

Research on the Influence and Mechanism of the Internet Development on FDI

作　　者：李浩 黄繁华[1,2] LI Hao;HUANG Fan-hua

机构地区：[1]南京大学商学院 [2]南京大学长三角经济社会发展研究中心办公室

出　　处：《国际经贸探索》2021年第9期68-83,共16页International Economics and Trade Research

基　　金：教育部人文社会科学研究重点基地重大项目(16JJD790025);南京大学长三角经济社会发展研究中心项目(20CYD0102)。

摘　　要：在数字经济时代,现代信息网络建设成为我国持续吸引外资的重要动能。文章构建了互联网发展综合指数,采用2004~2017年我国新增外资企业数据,实证检验以互联网为代表的数字基建对外资流入的影响及内在机制。研究表明:互联网发展显著地促进了外资进入我国,尤其推进了技术密集型制造业和现代服务业外资流入,助推外资向中西部和中小规模城市布局,从改善投资结构和优化投资区域两个角度提升了外资进入质量。文章还发现,放松外资管制能够强化互联网发展对外资的吸引力。理论分析和中介效应检验结果显示,交易成本降低和消费扩张效应是互联网发展促进外资流入的重要路径。文章为稳定外商投资规模和提高外资利用质量提供了来自现代信息网络建设的新解释,同时丰富了数字经济绩效评估的理论研究。In the era of digital economy,the construction of modern information network has become an important driving force for China to continuously attract foreign direct investment(FDI).This paper constructs the Internet Development Index and uses the data of China’s newly-increased foreign enterprises from 2004 to 2017 to empirically test the impact of digital infrastructure represented by the Internet on the FDI inflow and its mechanism.The results indicate that the Internet development significantly promotes the FDI inflow in China.It especially gives impetus to the inflow of FDI into the technology-intensive manufacturing industry and modern service industries,and promotes the distribution of FDI to the central and western regions as well as small and medium-sized cities.Therefore,the Internet development improves the FDI quality by optimizing the investment structure and investment area.In addition,it is found that the deregulation of foreign investment can strengthen the attraction of the Internet development to FDI.Meanwhile,the theoretical analysis and mediation effect test results show that transaction costs reduction and consumption expansion effect are the important ways for the Internet development to promote the FDI inflow.This paper provides a new explanation from modern information network construction for stabilizing the FDI scale and improving the FDI utilization quality,and enriches the theoretical research on digital economy performance evaluation.

关 键 词：互联网发展 FDI规模 投资结构 投资区域 FDI质量 

分 类 号：F062.5[经济管理—政治经济学]