RTA法律化水平、制度效应与中国OFDI  

Legalization Level of RTA,Institutional Effect and China’s OFDI

作　　者：肖奎喜[1] 李潇 张志明 XIAO Kuixi;LI Xiao;ZHANG Zhiming

机构地区：[1]广东外语外贸大学经济贸易学院

出　　处：《国际经贸探索》2024年第3期75-91,共17页International Economics and Trade Research

基　　金：国家社会科学基金重点项目(21AZD064);国家社会科学基金重大项目(23&ZD066);研究阐释党的二十大精神国家社会科学基金重大项目(23ZDA051)。

摘　　要：区域贸易协定(RTA)的缔结对推动中国对外直接投资(OFDI)具有重要意义。文章基于异质性视角,构建了RTA框架下跨国企业与东道国政府的两阶段博弈模型,从理论层面厘清了RTA法律化水平对OFDI的作用机制。通过对RTA条款进行“法律化水平”赋值,并以2003~2019年中国对147个国家或地区OFDI为样本,实证检验了其对中国OFDI的影响。研究表明,RTA法律化水平显著促进了中国OFDI;且缔结高法律化水平RTA能够弥补东道国制度缺位、弱化国家双边制度距离的投资抑制效应,来促进中国OFDI发展。文章进一步将RTA条款进行细分量化构建异质性条款法律有效指数,检验结果表明RTA法律化水平对中国OFDI的促进作用存在显著的条款异质性。基于以上结论,文章提出了相应的政策建议。The conclusion of regional trade agreement(RTA) is of great significance for the promotion of China's outward foreign direct investment(OFDI).From the perspective of heterogeneity,this paper constructs a two-stage game model between transnational enterprises and host governments under the RTA framework,and theoretically clarifies the mechanism of the effect of RTA legalization level on OFDI.By assigning legalization level to RTA clauses and taking China's OFDI in 147 countries or regions from 2003 to 2019 as the research sample,the paper empirically tests the impact of legalization level of RTA on China's OFDI.The research shows that legalization level of RTA significantly promotes China's OFDI;the conclusion of RTA with high legalization level can compensate for the institutional deficiency in the host country and weaken the investment inhibition effect of bilateral institutional distance between the countries,thereby promoting the development of China's OFDI.The paper further subdivides and quantifies RTA clauses,and constructs the legal effectiveness index of heterogeneous clauses.The test results indicate that there is significant clause heterogeneity in terms of the promotion effect of legalization level of RTA on China's OFDI.Based on the above conclusions,the paper puts forward corresponding policy recommendations.

关 键 词：区域贸易协定(RTA) 对外直接投资(OFDI) 法律化水平 制度效应 

分 类 号：F740[经济管理—国际贸易]