信息不对称对外资利用质量的影响

On Influence of Asymmetric Information on the Quality of Utilizing FDI

反映利用外资质量的技术溢出效应是无法直接观察的,外资企业在东道国创造增加值的比例即生产本地化程度决定了本地雇员和企业接触技术的概率,直接反映了技术转移与扩散的程度和范围。外资企业进口中间投入品降低生产本地化水平而传递了低技术溢出效应的信号。外资企业提高生产本地化可以降低生产成本,但技术溢出效应扩大,本地企业获得技术削弱了外资企业竞争力;通过进口降低生产本地化,可以抑制技术溢出,保持技术垄断优势,但生产成本增加。如果东道国模仿能力信息是完全的,外商能选择与模仿能力一致的生产本地化水平,使利润最大;外商对东道国模仿能力信息知之甚少,只能依据平均模仿能力选择生产本地化以追求利润最大化,则驱逐了高生产本地化水平的生产,利用外资质量降低。

Technological spillover effect which could reflect the quality of utilizing FDI is not directly observable. Ratio of value added to gross output of foreign firms--depth of foreign enterprises＇ production would determine the probability of technology accessed to local employees and firms, and directly reflects the extent of technology transfer and its diffusion. Foreign enterprises reduce local depth of foreign enterprises＇ production by import of intermediate inputs which sends a signal of lower spillover effects of technology transfer. Foreign enterprises improve local depth of foreign enterprises＇ production to reduce production cost, but local enterprises could obtain the technology by spillover effects to weaken technical advantage of foreign enteq^rises. Foreign firms reduce localization of foreign enterprises＇ production by import of intermediate inputs which reduce restrain technology spillovers and maintain technical monopoly advantage, but raise production costs. Under symmetric information of imitation ability in host country, foreign firms could choose depth of production localization according to imitation ability by profit maximization. Under asymmetric information of imitation ability in host country, foreign firms could choose depth of production localization according to average level of imitation ability, which would reduce local depth of foreign enterprises＇ production, and the quality of utilizing FDI would lower.