日本引进外国直接投资的理论分析

Theoretical Analysis of Japan's FDI Inflow

从传统的OLI模式看,20世纪90年代后期流入日本的外国直接投资迅速增加,主要是因为在这个时期所有权优势、区位优势和内部化优势在日本结合得越来越好。OLI模式中的3种优势是不断变化的,尤其是把所有权优势作为直接投资的投入转向作为直接投资的产出时,跨国公司的战略也发生转移,这就需要重新审视OLI模式中的3种优势。重新审视所有权优势,在日本不仅非制造业对外国企业有一定的吸引力,而且具有竞争优势的一些制造业也仍然是外国直接投资的主要领域;重新审视区位优势,日本虽然"先天"资源贫乏,但现在跨国公司所重视的"后天"资产却比较丰富;重新审视内部化优势,现在的跨国公司越重视"后天"资产,就越愿意选择内部化方式扩张。

According to traditional OLI model, Japan＇s increasing FDI inflows since the 1990s can be explained by an improved combination of ownership, locational and internalization advantages. The three advantages are ever changing, especially when the ownership advantage is understood as an output instead of an input of FDI, the strategy of multinational companies may vary. It is necessary to re - scrutinization of the OLI. Specifically, as to the ownership advantage, not only non - manufacturing but also competitive manufacturing sectors are attractive for FDI inflows; as to the locational advantage, although the natural resource endowment are limited, Japan is rich in the “acquired” assets which is emphasized by the MNCs; as to the internalization advantage, the more the “acquired” assets is emphasized, the more the internalization strategy is likely to be taken by the multinational companies.