中国外商直接投资的进入模式——对独资倾向影响因素的实证分析

Entry Mode of FDI in China: An Empirical Analysis of Determinants of the Tendency of Wholly Foreign Owned Modes

改革开放以来,外商直接投资进入中国的市场模式出现独资倾向。文章探讨了中国外商直接投资进入模式独资倾向的影响因素,实证分析的结果表明,中国的市场规模、开放水平和外商直接投资的工业比重等变量都对其有显著的正影响,而市场化程度以及外商直接投资的服务业比重则对其有显著的负影响。中国经济的增长率对外商直接投资进入模式的独资倾向影响则不显著。

Since opening-up and reform, wholly foreign owned enterprise has gradually become the most popular entry mode for foreign investors in China. This paper explores the factors that contribute to the FDI entry tendency of foreign investors in China. The results of the empirical analysis show that such variables as Chinese market size, open degree and the proportion of industrial sector of FDI are all positively associated with the tendency, while degree of market development and the proportion of service sector of FDI are found to be significant but negatively associated with the tendency. The results also show that the economic growth rate of China is not significant in influencing the wholly foreign-owned tendency of FDI entry mode.