本文選題：外商直接投資　切入點：實際有效匯率　出處：《經(jīng)濟科學》2017年02期

【摘要】：本文測度了2001-2015年中國大陸29個省市的經(jīng)濟增長質量和人民幣實際有效匯率,考察了FDI對增長質量的作用以及匯率變化的影響。結果顯示,FDI整體降低了經(jīng)濟增長的質量,外商在華投資中可能存在著較大比例的非耐心資本。人民幣匯率升值具有顯著的FDI甄別效應,通過提高耐心投資份額改善了FDI的作用。經(jīng)濟聯(lián)系緊密度越低,資本流動傾向越高,甄別效應越顯著。匯率甄別主要在效率和可持續(xù)性渠道中改善了FDI的作用,在穩(wěn)定性渠道中則沒有顯著影響。當匯率持續(xù)升值時,其在效率和可持續(xù)性渠道中的積極作用會迅速衰減,對資本流入的沖擊還將引發(fā)穩(wěn)定性渠道中強烈的負面反應。
[Abstract]:This paper measures the quality of economic growth and the real effective exchange rate of RMB in 29 provinces and cities in mainland China from 2001 to 2015, and examines the effect of FDI on the quality of growth and the change of exchange rate. There may be a large proportion of non-patient capital in foreign investment in China. The appreciation of the RMB exchange rate has a significant FDI screening effect and improves the role of FDI by increasing its share of patient investment. The higher the tendency of capital flow, the more significant the screening effect is. Exchange rate screening improves the role of FDI mainly in efficiency and sustainability channels, but not in stable channels. Its positive role in efficiency and sustainability channels will decline rapidly, and the impact on capital inflow will cause strong negative reactions in the stable channels.
【作者單位】： 山東大學經(jīng)濟學院;
【基金】：國家自然科學基金青年項目(71403144) 教育部人文社會科學研究青年基金項目(14YJC790105)的階段性成果
【分類號】：F832.6;F124.1

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本文編號：1679465