双向直接投资联动与产业链韧性——基于共建“一带一路”国家经验分析  

Two-way Direct Investment Linkage and Industry Chain Resilience:An Analysis Based on the Experience of Belt and Road Partner Countries

作　　者：何雯妤 谢家智[1] HE Wenyu;XIE Jiazhi

机构地区：[1]西南大学经济管理学院,重庆400715

出　　处：《经济问题探索》2025年第4期107-121,共15页Inquiry Into Economic Issues

基　　金：国家社会科学基金一般项目“数字化时代创新链与产业链融合的机制创新与政策协同研究”(22BJY034),项目负责人:谢家智;重庆市社会科学规划博士项目“新质生产力形成目标下的居民数字素养高质量培育机制和收入分配效应研究”(2023BS018),项目负责人:吴静茹。

摘　　要：投资开放具有促进产业和市场的融合发展作用,但双向直接投资联动对产业链韧性的作用和机理尚未得到验证。基于研究双向直接投资联动对产业链韧性的理论分析,运用2007—2021年55个共建“一带一路”国家面板数据实证检验了双向直接投资联动对产业链韧性的影响。研究结果表明:双向直接投资联动显著提升了产业链韧性水平,这一结论在一系列稳健性检验以及内生性处理后仍然成立。异质性分析结果表明,双向直接投资联动对产业链韧性的促进作用在中高收入及高收入国家和资本开放度较高的国家更为明显。进一步研究发现,双向直接投资联动通过促进技术创新提升产业链韧性,营商环境发挥了双向直接投资联动提升产业链韧性的调节作用。本文的研究结论为提升产业链韧性提供新的视角。The opening up of investment has the effect of promoting the integrated development of industries and markets, but the effect and mechanism of two-way direct investment linkage on industry chain resilience have not been emphasized.Based on the theoretical analysis of the impact of two-way direct investment linkage on industrial chain resilience, using panel data of Belt and Road partner countries, this paper empirically tests the effects of two-way direct investment linkage on industrial chain resilience.The results of the study show that two-way direct investment linkage significantly improves the resilience level of the industry chain, and this conclusion still holds after a series of robustness tests and endogenous treatment.The results of heterogeneity analysis show that the promoting effect of two-way direct investment linkage on the level of industrial chain resilience is more obvious in upper-middle-income and high-income countries and countries with higher capital openness.Further research finds that two-way direct investment linkage enhances industrial chain resilience through promoting technological innovation and the business environment plays a regulatory role in improving industrial chain resilience through the two-way direct investment linkage.The findings of this paper provide new perspectives and ideas for enhancing the resilience of the industrial chain.

关 键 词：双向直接投资 投资联动 产业链韧性 共建“一带一路”国家 

分 类 号：F753[经济管理—国际贸易]