外向型直接投资反哺效应与中国企业国际化——金融危机下的理论与经验分析

Regurgitation Feeding Effect of Outward Foreign Direct Investment and Internationalization of Chinese Enterprises:a Theoretical and Empirical Analysis under the Background of Financial Crisis

文章研究了外向型直接投资对资本输出国的反哺效应。作者从反哺机理与路径入手,全面考察了对外直接投资对资本输出国的反哺效应,并进行了经验分析。主要结论是中国的"走出去"战略是正确的,我国对外直接投资的母国反哺效应客观存在,在长期中对我国经济产生积极作用。在金融危机背景下,更应重视对外直接投资的反哺效应,加大对外直接投资力度,利用国际市场,积极获取受限技术、稀缺性资源和战略性资产,实现资本输出母国反哺效应的最大化。

This paper studies the regurgitation feeding effect of outward foreign direct investment on the capital export country. The paper starts with the regurgitation feeding mechanism and path, makes detailed investigations on the regurgitation feeding effect of outward foreign direct investment on the home country, and does empirical analysis. The main conclusion is that the going-out strategy of China is correct. Also, the regurgitation feeding effect of Chinese outward foreign direct investment on the home country is objectively existential, and will have positive effects on our economy. China should think highly of the regurgitation feeding effect of outward foreign direct investment under the impact of financial crisis, and we should seize the rare opportunity to intensify the outward foreign direct investment adjustment and aggressively acquire limited techniques, scarce resources, and strategic resources from the international market, so as to maximize the regurgitation feeding effect on home country.