中国制造业吸引FDI的政策设计

Policy Design to Absorb FDI in Chinese Manufacturing Industry

采用线性回归分析法对影响外商直接投资溢出效应的因素进行了研究,比较并区分了产业内和产业间溢出效应。对于影响溢出效应的因素,分别从外商直接投资特征和行业特征两个角度进行分析。研究结果表明,溢出效应主要发生在产业间,而且不同来源的外商直接投资(来源于港澳台的投资和来源于其他国家的投资)、不同投向的投资(投向国有企业的投资和投向集体企业的投资)以及不同动机的投资(出口导向型投资和市场导向型投资)的产业溢出效应是不同的。研究表明溢出效应容易在内外资企业差距较小的行业中产生,东道国在政策设计时要明确直接投资的各种属性,应针对行业特征设计激励措施。

Thle paper uses linear analysis method to study the factors which influence the spillovers of FDI（ Foreign Direct Investment）. The article compares and differetiates intra - industry and inter - industry spillovers. It explores the influence of different industrial characters and different FDI characters on the spillovers. The results of the study show that spillovers occur mainly inter- industries. The FDI from different origins（ from Hongkong, Macao, Taiwan and other countries）, the FDI with different investing directions（ invsting to state -owned enterprises and invsting to collective enterprises） and the FDI with different motives（ expoted - oriented FDI and market - oriented FDI） have different spillovers. The article also finds that the spiilovers easily occur in tile industries with small distance between domestic and foreign firms. Finally the article suggests that the host country should clasify the property of FDI when designing policies and design motivating measurements according to different industrial characters.