摘要
直接投资和出口贸易是跨国公司服务东道国市场的两大主要方式,然而就美国跨国公司而言,与其服务大多数东道国的方式不同,其服务中国市场时主要以出口贸易为主。为此,我们以异质性贸易理论为基础,分析了跨国公司方式选择的理论基础和美国跨国公司和中国作为东道国的比较优势,并借助多个国家的制造业行业数据进行实证检验,试图解释美国跨国公司服务中国市场的经济行为。研究表明,美国服务中国市场的方式主要以混合型直接投资为主,这是美国跨国公司更偏爱出口贸易的主要原因。此外,本文还发现,运输成本越大、生产率异质性越大和工厂水平固定成本越小,跨国公司就会更加偏爱直接投资而不是出口贸易。
Investment and export are the two channels for multinational companies to penetrate host countries. However, what is different between China and other host countries is that U.S. companies penetrating Chinese markets prefer to export. Based on the heteroge- neous trade theory, this paper studies the comparative advantage of U. S. companies in China and then tests the economic behavior of U. S. companies using China-U. S. manufacturing da- ta. The paper finds that the main way that U. S. companies penetrate the Chinese market is mixed foreign direct investment. This is the main reason that U. S. companies prefer to ex- port in China. Higher transport costs, higher heterogeneities among firms and smaller set-up costs increase the chances of U.S. companies to export.
出处
《经济学（季刊）》
CSSCI
北大核心
2012年第4期203-222,共20页
China Economic Quarterly
基金
教育部人文社科重点研究基地重大课题(2008JJD790126)
南开大学"跨国公司研究创新基地"(985项目)课题(985TNC20060101)
教育部博士研究生学术新人奖的资助
