FDI溢出效应与区域经济增长:基于东道国要素市场发展的理论视角及中国经验

FDI Spillovers and Local Economic Growth:Theoretical Analysis and Empirical Research on the Role of Factor Market Development

本文首先阐述了东道国要素市场发展程度如何对FDI溢出效应产生影响。在此基础上，本文构建了一个三部门的内生增长模型，其中，要素市场发展水平通过制约本地研发部门获取生产要素的便利程度，影响本地企业获取FDI净溢出效应的大小。分析发现，东道国要素市场的发展有利于本地企业获取正向的FDI溢出效应，从而加速促进区域经济增长。采用我国1997～2004年31个省市的面板数据的实证结果表明，随着外资大规模涌入，我国要素市场已难以为当地企业提供足够的资金和人才支持，从而造成FDI净溢出效应为负。而且，要素市场发展水平滞后也是造成我国FDI溢出效应跨区域差异和阶段性变化的主要原因。文章最后针对如何促进生产要素市场发展以获取正向FDI溢出效应提出了政策建议。

By establishing an endogenous growth model inclusive of a structural variable, this paper shows that host country′s development of factor market is the determinant of FDI spillovers. Basee on our panel data estimation of China′s 31 provinces during the period of 1997~2004, We find that negative FDI spillovers result from China′s factor market development lagging behind the inflow of FDI. Furthermore, the development of factor market primarily generates the different spillovers in different areas and periods. Finally, we make china′s government some proposals of how to gain positive technology spillover by accelerating the development of factor market.