外商直接投资对中国国际收支双顺差影响的分析

Research of Impact of FDI on China’s Double Surplus of Current Account and Capital & Financial Account

20世纪90年代以来,中国的国际收支呈现出经常项目和资本与金融项目顺差并存的"双顺差"特点。造成双顺差的原因有很多,其中外商直接投资(FDI)是一个重要的影响因素。运用理论和实证的分析结果表明,外商直接投资与"双顺差"之间存在着显著的因果关系,且两者之间存在着长期稳定的均衡关系。积极合理的利用外商直接投资,不仅有利于化解中国宏观经济的外部失衡,也有利于带动中国经济的协调发展。

Since the 1990s, Chinese international balance of payments has shown the characteristics of a current account surplus combined with a capital and financial account surplus of characteristics, i.e. the ＂double surplus＂. This phenomenon is caused with many of reasons, among them, which foreign direct investment （FDI） is an important one. The theoretical and empirical analysis of the paper indicates that there is a causality and the long-term stable relationship between FDI and double surplus. We should utilize FDI more efficiently to defuse the external imbalance of Chinese macroeconomic and push forward the development of the Chinese economy.