深度一体化、外国直接投资与发展中国家的自由贸易区战略

Deep Integration,FDI and Developing Countries’ FTAs Strategies

深度一体化是全球区域主义的新趋势，近年来，越来越多的区域一体化协定涉及投资问题，吸引外资正在逐渐成为发展中国家参与区域经济一体化的主要目标之一。本文采用寡头垄断的一般均衡模型，以一个市场规模较大的发展中国家为分析对象，研究了此类国家参与不同类型区域一体化对吸引区内、区外投资的作用。数值模拟的结果显示，区域一体化的深度、成员国间的距离、市场规模及区内与区外国家的生产成本差异等因素将影响区域一体化的引资效果。结论指出，发展中国家在实施自由贸易区战略时应注重深度一体化，对于与距离较远国组成的FTA，应以促进区内双向投资为主，对于与距离较近国家组成的FTA，应充分利用大市场的规模效应，构建“单一投资区”，促进区内、外投资流入。

The new trend of regionalism is deep integration. In recent years, more and more regional integration agreements touch on investment issues. This paper uses an oligopoly general equilibrium model to analyze the effects of developing countries＇ regional integration policy on investment. Numerical simulation results show that several factors will influence the impacts of regional integration on investment, including the depth and scope of cooperation, distance between partners, market sizes and differences in countries＇ production costs. FTAs between neighboring countries definitely increase intra-regional investment, but for FTAs be- tween countries with distances, inter-regional investment is as important as intra-regional investment.