影响转轨国家银行业FDI流入的因素分析——基于DEA及面板协整的研究

Factor Analysis of FDI Inflow in Banking Industry of Transitional Country:Based on DEA and Cointegration of Panel Data

本文在折衷理论的框架下,以中东欧国家为样本,运用DEA方法、面板数据及协整的方法探讨了影响转轨国家外资银行进入的因素。结果显示区位因素在外资银行进入中作用显著,转轨国家的经济发展、金融深化等制度改革及外资偏好对外资银行进入有深刻的影响,相比之下所有权优势及内部化优势等对外资银行进入影响并不明显。这在一定程度上支持了以下结论:外资银行进入的动机主要是为了获得转轨国家迅速发展及管制放松所产生的市场与租金,而能否带来先进技术促进东道国本土银行业研发、管理等的发展则有待商榷。

Using the Eclectic Paradigm of International Production and based on DEA model and cointegration of panel data, this paper studies the factors that affect the entrance of foreign bank in transitional country taking the sample from Central and Eastern Europe. The result shows that locational factor significantly affects the entrance of foreign bank, such as economic growth, financial deepening as well as the preference for foreign capital. On the contrary, the ownership advantage, and following strategy that belong to internalization advantages are not the remarkable factors. Therefore, we conclude that the motive of the entrance of foreign banks is to ob- tain the county＇s market and the rent of economic development and deregulation during the transitional period, but whether they can bring better technology to improve the management and research of banking industry in host countries remained in studying.