摘要
本文摒弃了"从溢出渠道研究东道国受益情况"的传统思路,强调跨国企业的母国特征对企业投资动机进而对东道国溢出效应(贡献)的决定。本文进一步利用1995—2011年按两位码分类的中国工业行业分布滞后动态面板数据估计了不同来源地FDI对工业全要素生产率的效应。本文经验研究发现:美国FDI主要涉及高技术产业,对溢出效应的控制也最为严格,对中国资本密集型工业的贡献在当期显著,滞后期则明显减弱;以追求高市场化程度为战略目标的欧盟FDI与中国工业绩效改善之间存在显著的正相关关系;东(南)亚跨国企业侧重于利用文化趋同性来降低劳动生产要素的成本,来自这一地区的FDI对中国劳动密集型工业的贡献明显强于资本密集型工业。随着国内国际形势的变化,需要重新认识和评价外商直接投资的作用,只有果断转向差异化的外资战略,善于利用外资倒逼效应释放新的制度红利,才能保证外资有助于中国工业自主创新能力提升这一战略目标的实现。
The paper abandons the traditional idea which research host county benefits by overfill channel, and emphasizes that multinationals＇ home country characters affect corporations＇ investment motivations and consequently affect overfill effects（contribution）. The paper using China industry distributing late dynamic panel data with two-code classified of 1995--2011, estimates the effects make by FDI from different sources to industry total factor productivity. The paper finds： （1）American FDI mosdy relate to high tech industry, it is most strict with control of overfill effects, and it has degression trend to contribution of China＇s capital-intensive industry. （2）It has significant positive correlations between EU FDI whose strategic objectives are seeking for high marketization process and the development of China＇s industry performance. （3）East （South） Asian multinationals emphasize using culture convergence for reduce cost of labor production factors, East （South） Asian FDI has obviously more contribution to China labor-intensive industry than China capital-intensive industry. With change of national and international condition, effects of FDI should be realized and evaluated again. Only through resolutely turning to different foreign capital （policy） strategy and being good at obtaining new institutional dividend from reversed effect of foreign capital, can it ensure that foreign capital boost independent innovation ability of China industry and achieve the strategic objective.
出处
《中国工业经济》
CSSCI
北大核心
2014年第2期71-83,共13页
China Industrial Economics
基金
国家社会科学基金项目"以企业为主体的战略性新兴产业自主创新机制研究"(批准号11BJY006)
教育部新世纪优秀人才支持计划"公司成长与现代产业的演进"(批准号NCET-11-0429)
关键词
不同来源地FDI
投资动机
工业绩效
外资战略
FDI from different sources
investment motivations
industry performance
foreign capital strategy
