本文關(guān)鍵詞： 人類發(fā)展指數(shù) 政治風(fēng)險 對外投資　出處：《投資研究》2017年04期 　論文類型：期刊論文

【摘要】：本文利用"中國全球投資追蹤"數(shù)據(jù)庫(The China Global Investment Tracker,CGIT)數(shù)據(jù),采用面板Tobit模型,實證分析了東道國人類發(fā)展水平、政治風(fēng)險對中國企業(yè)對外投資的影響。結(jié)果顯示,東道國人類發(fā)展指數(shù)對中國企業(yè)對外投資有正的顯著影響,政治風(fēng)險指數(shù)對中國企業(yè)對外投資有負的顯著影響,表明中國企業(yè)海外投資雖然是風(fēng)險偏好型,但多會選擇人類發(fā)展水平較高的國家。分樣本來看,中國企業(yè)的對外直接投資受東道國人類發(fā)展水平影響更大,而工程項目投資則更多的是受政治風(fēng)險影響,這一發(fā)現(xiàn)對中國企業(yè)的"二元性"投資行為有較強的解釋作用。同時,東道國經(jīng)濟發(fā)展水平、通貨膨脹率以及經(jīng)濟自由度等均對中國企業(yè)對外投資有顯著影響。本文的研究結(jié)論對"一帶一路"背景下中國企業(yè)的對外投資區(qū)位選擇也有一定指導(dǎo)意義。
[Abstract]:In this paper, the China Global Investment Trackerite data is used to analyze the influence of the level of human development and political risk of the host country on the foreign investment of Chinese enterprises by using the panel Tobit model. The human development index of the host country has a positive and significant impact on the foreign investment of Chinese enterprises, while the political risk index has a negative and significant impact on the foreign investment of Chinese enterprises, which indicates that the overseas investment of Chinese enterprises is a risk preference type. However, most of them will choose countries with a higher level of human development. According to the sample, the foreign direct investment of Chinese enterprises is more affected by the level of human development in the host country, while the investment in engineering projects is more affected by political risks. This discovery has a strong explanation for the "dualistic" investment behavior of Chinese enterprises. At the same time, the level of economic development of the host country, The inflation rate and economic freedom have significant influence on Chinese enterprises' foreign investment, and the conclusion of this paper has certain guiding significance for the location choice of Chinese enterprises' foreign investment under the background of "Belt and Road".
【作者單位】： 福建社會科學(xué)院;
【基金】：福建省軟科學(xué)研究計劃資助項目(項目編號:2017R0022)
【分類號】：D0;F125;F279.2

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本文編號：1547074