对外直接投资对母国全球价值链地位影响的实证研究

The Empirical Study of the OFDI’s Influence on the Home Country’s Status of GVC

全球价值链分工深化为发展中国家带来了新的发展机遇。文章基于1995~2017年39个国家的数据实证检验了对外直接投资对全球价值链地位的影响,得出对外直接投资能够影响母国全球价值链地位的结论;并将样本分为发达国家与发展中国家,检验结果发现发达国家与发展中国家对外直接投资对母国全球价值链地位的影响存在异质性,发达国家的对外直接投资更能够促进母国全球价值链地位的提升,发展中国家的对外直接投资对母国参与全球价值链活动的影响存在两面性;进一步用中国16个行业2004~2014年的数据实证分析发现,目前中国对外直接投资能够对中国全球价值链地位产生积极影响,但是国内研发投入与对外直接投资之间产生了挤出效应,对外依存度的提高也会不利于中国全球价值链地位提升;文章最后将中国对外直接投资分为五大类进行实证检验,发现中央企业及单位的OFDI最能够促进中国GVC增加值的提高,对发展中国家进行投资更能够提升中国GVC增加值能力,给中国对外直接投资结构优化提供了参考。

The deepening division of GVC has brought new development opportunities to developing countries.Based on the data of 39 countries from 1995 to 2017,this paper empirically tests the OFDI’s influence on the home country’s status of GVC,and draws the conclusion that OFDI can affect the home country’s status of GVC.Then the sample is divided into developed countries and developing countries,and the test results show that the impact of OFDI from developed countries and developing countries on the home country’s status of the GVC is different,OFDI from developed countries can promote the home country’s status of GVC,but OFDI from developing countries has two sides.Further empirical analysis of data from 16 industries in China from 2004 to 2014 shows that OFDI in China has positive impact on China’s status of the GVC,but there is a crowding out effect between domestic RD investment and OFDI,and the increase of foreign dependence will also be detrimental to the promotion of China’s GVC status.Finally,this paper classifies China’s OFDI into five categories,and finds that the OFDI of central enterprises and units can best promote the increase of China’s GVC value,as well as investment in developing countries can enhance the added value capacity of GVC,providing reference for the optimization of OFDI structure in China.