外商直接投资对内资企业效率的影响和渠道

Does Foreign Direct Investment Benefit Chinese Indigenous Firms? Effects and Channels

本文利用我国1998—2005年制造业大样本企业层次数据,运用面板数据分析方法,研究我国外商直接投资对内资企业生产效率的溢出效应及其作用渠道。我们发现,地理距离显著影响外商直接投资的溢出效应,其中,本市范围内外商投资水平对内资企业的净溢出效应为正,而全国范围的外商投资水平对内资企业的净溢出效应为负;进一步分析表明,本市范围内外商投资对内资企业的正向溢出效应随内资企业技术吸收能力和吸引外资企业员工的可能性提高而增强,同时,全国范围外资对内资的负向溢出效应则随内资和外资企业在市场和产品两个维度的竞争程度提高而加剧;本文还发现,外商直接投资对国有企业有显著的负向溢出效应,而对私营企业主要表现为显著的正向溢出效应。

In this paper, we investigate the impact of foreign direct investment （FDI） on productivity of Chinese indigenous firms with a representative sample during 1998--2005. We find foreign presence at county level and region level affects Chinese indigenous firms differently. Our analyses show that head-to-head competition with foreign invested enterprises （FIEs）, in domestic market and foreign markets, generally reduces productivity of Chinese indigenous firms. Meanwhile, possible technology and skill spillovers within small geographic scopes increase Chinese indigenous firms＇ productivity. However, whether indigenous firms benefit or suffer from foreign presence depends partially on their ownership： state-owned firms suffer the most from foreign presence, while private firm benefit the most.