東道國政府清廉度對中國對外直接投資的影響研究
發(fā)布時間：2018-09-05 13:42
【摘要】：東道國政府清廉度對中國對外直接投資有著重要的影響，而目前學(xué)者的研究主要集中于東道國的市場規(guī)模、要素稟賦對中國跨國投資區(qū)位選擇的影響，對東道國政治因素的考察多為投資政策、政治穩(wěn)定程度等。對于東道國政府清廉度的分析較少。在理論上，東道國政治清廉度與對外直接投資正相關(guān)，而現(xiàn)實中，近年來中國非金融類對外直接投資在一些高政治風(fēng)險國家的迅速增長。 基于這樣的研究背景，本文首先回顧了東道國政府清廉度與對外直接投資有關(guān)的理論和文獻(xiàn)，并介紹和分析了我國對外直接投資的發(fā)展歷程、類型、分布及各東道國的政府清廉情況。隨后，理論分析東道國政府清廉度影響中國對外直接投資影響的正面效應(yīng)與負(fù)面效應(yīng)。一方面，東道國政府清廉會減少跨國企業(yè)的額外成本，降低不確定性，，從而吸引對外直接投資；另一方面，由于政府不清廉可能會加快審批程序，帶來額外收益，政府清廉度也可能與對外直接投資負(fù)相關(guān)。進(jìn)一步地，本文探討了東道國政府清廉度對中國境外直接投資的三種主要類型——中國資源尋求型、市場尋求型、技術(shù)尋求型對外直接投資決策的影響。由于企業(yè)境外直接投資的類型和目的的不同，政府清廉度對其的正面效應(yīng)及負(fù)面效應(yīng)的影響程度也將有所差異，從而表現(xiàn)出不同的結(jié)果。實證結(jié)果與理論分析一致。采用中國對其他72個國家1995-2010年的面板數(shù)據(jù)，本文基于OLS、FGLS方法實證分析東道國政府清廉度在我國對外直接投資總量中的作用。與絕大多數(shù)就發(fā)達(dá)國家情況研究的實證結(jié)果不同，總體而言對于中國境外直接投資，政府清廉度的負(fù)面效應(yīng)占據(jù)上風(fēng)，我國對外直接投資與東道國政府清廉度顯著負(fù)相關(guān)。進(jìn)一步地，在對樣本國進(jìn)行聚類分析后，考察了中國不同類型的對外直接投資對東道國政府清廉度的敏感度，回歸結(jié)果顯示對于不同動機(jī)的對外直接投資東道國政府清廉度的影響各不相同，市場尋求型對外直接投資與東道國政府清廉度負(fù)相關(guān)但并不顯著，資源尋求型對外直接投資傾向于投資于東道國政府清廉度低的國家，而技術(shù)尋求型對外直接投資與東道國政府清廉度的敏感度為正。這也證實了理論分析指出的由于中國對外直接投資的動機(jī)和特性的不同，導(dǎo)致政府清廉度對不同類型對外直接投資影響的差異。最后，在上文理論與實證分析的基礎(chǔ)上，提出針對性的政策建議。
[Abstract]:The degree of incorruptibility of the host government has an important influence on China's foreign direct investment (FDI). At present, scholars mainly focus on the market size of the host country and the influence of factor endowments on the location choice of China's transnational investment. The political factors of host country are mostly investment policy, political stability and so on. There is little analysis of the clean government of the host country. Theoretically, the degree of political incorruptibility in host country is positively related to foreign direct investment (FDI). In reality, in recent years, China's non-financial FDI has grown rapidly in some countries with high political risk. Based on this research background, this paper first reviews the theory and literature on the degree of incorruptibility of the host government and foreign direct investment, and introduces and analyzes the development course and types of China's foreign direct investment. Distribution and integrity of governments in each host country. Then, the positive and negative effects of the incorruptibility of the host government on China's foreign direct investment (FDI) are analyzed theoretically. On the one hand, the clean government of the host country will reduce the additional costs and uncertainty of multinational enterprises, thereby attracting foreign direct investment; on the other hand, because the government is not clean, it may speed up the approval process and bring additional benefits. The degree of government incorruptibility may also be negatively correlated with foreign direct investment (OFDI). Furthermore, this paper discusses the influence of the degree of incorruptibility of the host government on China's foreign direct investment (FDI), namely, the resource seeking type, the market seeking type, and the technology seeking type. Due to the different types and purposes of enterprises' foreign direct investment, the degree of influence of the degree of government incorruptibility on its positive and negative effects will also be different, thus showing different results. The empirical results are consistent with the theoretical analysis. Based on the panel data from China to 72 other countries from 1995 to 2010, this paper empirically analyzes the role of the clean government of the host government in China's total foreign direct investment (FDI) based on the OLS,FGLS method. Different from the empirical results of most of the developed countries, the negative effect of government incorruptibility on China's foreign direct investment (FDI) is dominant, and there is a significant negative correlation between China's FDI and the host government's incorruptibility. Further, after cluster analysis of sample countries, the sensitivity of China's different types of FDI to the integrity of host governments was investigated. The regression results show that there are different influences on the degree of incorruptibility of the host government of FDI with different motivations, but the market seeking FDI is negatively correlated with the degree of government incorruptibility, but it is not significant. Resource-seeking FDI tends to invest in countries with low degree of integrity of the host government, while the sensitivity of technology-seeking FDI to the government of the host country is positive. It also proves that the influence of government incorruptibility on different types of FDI is different due to the different motives and characteristics of China's FDI. Finally, on the basis of theoretical and empirical analysis above, the paper puts forward targeted policy recommendations.
【學(xué)位授予單位】：湖南大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：D822.3;F832.6
本文編號：2224446
[Abstract]:The degree of incorruptibility of the host government has an important influence on China's foreign direct investment (FDI). At present, scholars mainly focus on the market size of the host country and the influence of factor endowments on the location choice of China's transnational investment. The political factors of host country are mostly investment policy, political stability and so on. There is little analysis of the clean government of the host country. Theoretically, the degree of political incorruptibility in host country is positively related to foreign direct investment (FDI). In reality, in recent years, China's non-financial FDI has grown rapidly in some countries with high political risk. Based on this research background, this paper first reviews the theory and literature on the degree of incorruptibility of the host government and foreign direct investment, and introduces and analyzes the development course and types of China's foreign direct investment. Distribution and integrity of governments in each host country. Then, the positive and negative effects of the incorruptibility of the host government on China's foreign direct investment (FDI) are analyzed theoretically. On the one hand, the clean government of the host country will reduce the additional costs and uncertainty of multinational enterprises, thereby attracting foreign direct investment; on the other hand, because the government is not clean, it may speed up the approval process and bring additional benefits. The degree of government incorruptibility may also be negatively correlated with foreign direct investment (OFDI). Furthermore, this paper discusses the influence of the degree of incorruptibility of the host government on China's foreign direct investment (FDI), namely, the resource seeking type, the market seeking type, and the technology seeking type. Due to the different types and purposes of enterprises' foreign direct investment, the degree of influence of the degree of government incorruptibility on its positive and negative effects will also be different, thus showing different results. The empirical results are consistent with the theoretical analysis. Based on the panel data from China to 72 other countries from 1995 to 2010, this paper empirically analyzes the role of the clean government of the host government in China's total foreign direct investment (FDI) based on the OLS,FGLS method. Different from the empirical results of most of the developed countries, the negative effect of government incorruptibility on China's foreign direct investment (FDI) is dominant, and there is a significant negative correlation between China's FDI and the host government's incorruptibility. Further, after cluster analysis of sample countries, the sensitivity of China's different types of FDI to the integrity of host governments was investigated. The regression results show that there are different influences on the degree of incorruptibility of the host government of FDI with different motivations, but the market seeking FDI is negatively correlated with the degree of government incorruptibility, but it is not significant. Resource-seeking FDI tends to invest in countries with low degree of integrity of the host government, while the sensitivity of technology-seeking FDI to the government of the host country is positive. It also proves that the influence of government incorruptibility on different types of FDI is different due to the different motives and characteristics of China's FDI. Finally, on the basis of theoretical and empirical analysis above, the paper puts forward targeted policy recommendations.
【學(xué)位授予單位】：湖南大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：D822.3;F832.6
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