广东省外商直接投资与省内固定资产投资相关性的实证分析——挤出还是挤入效应

Empirical Study on the Effects of FDI on Domestic Investment in Guang-dong Province——Crowding in or Crowding out?

本文以新古典投资理论为基础,利用广东省1979-2004年的数据,并结合经济运行的实际情况,对外商直接投资对广东省内投资的挤入挤出效应进行了实证分析,结果表明:广东省的外商直接投资对广东省的省内投资产生了挤出效应。在实证分析的基础上,对产生挤出效应的原因做了进一步的分析。

Employing the New-Classical investment theory, this paper examines the relevant data of the period 1979-2004, and studies the relationship between FDI and domestic investment in light of the actual economic development of Guang-dong Province. The empirical study concludes that FDI produces a significant crowding out effect on the domestic investment in Guang-dong Province. Based on the conclusion, the paper conducts a further analysis on the factors contributing to the crowding out effect.