东道国政府治理与中国对外直接投资关系研究--基于东道国面板数据的实证分析

Host Countries' Governance and China's OFDI:Panel Investigation

本文采用2003-2008年中国对外直接投资(OFDI)上升期的数据,运用面板数据回归方法对中国OFDI流量和东道国政府治理等变量进行了实证分析。结果发现,在反映东道国政府治理水平的六个指标中,"政府施政有效性"与中国OFDI流量显著正相关,"贪腐控制"与中国OFDI流量显著负相关,而"公民参政与政治人权"、"政治稳定程度"、"市场经济限制程度"、"司法有效性"等指标与中国OFDI流量关系不显著。这一结果反映出中国OFDI在快速上升的过程中,隐含着一定的制度风险。

This article examines the impacts of host countries＇ governance on the flow of FDI from China.From panel data of host countries receiving FDI from China during 2003 to 2008,it is found that,among the six sub-indices of host countries＇ governance,Government Effectiveness is negatively related with China＇s OFDI flow,while Control of Coccuption negatively.However,regression results show that there is no sigificant correlation between China＇s OFDI flow and other indices including Voice and Accountability,Political Stability and Absence of Violence,Regulatory Quality and Rule of Law.These findings indicate institutional risk hoverring over China＇s OFDI activities.