制度约束、外商投资与产业结构升级调整——基于省际面板数据的实证研究

Institution Constraint, FDI and Industrial Structure Adjustment: Investigation Based on Chinese Provincial Panel Data

本文基于空间经济学,从制度约束的视角对FDI影响产业结构调整的机制进行了系统梳理,并应用1985-2004年省际面板数据,采用双向固定效应模型对FDI与产业结构调整的关系进行了实证检验。结果发现:FDI增加有助于提升第三产业在经济中的比重,降低第二产业比重,总体上有利于产业结构优化升级,并且FDI的产业结构调整效应呈边际递减规律(倒U型走势)。产生这种效应与FDI的资本供给、技术进步、收入漏出效应有关,也与中国金融偏向政策等制度约束有关。政府应继续积极合理有效地引进外资并加强产业引导,同时着力改善制度环境。

Based on spatial economics,this paper comprehensively analyzes the mechanism of foreign direct investment influencing industrial structure from the angle of institution constraint.Then the paper uses 1985-2004 provincial pan-el data to investigate the relationship between FDI and industrial structure adjust-ment in China.The results show that the increase of FDI helps to increase the proportion of the third industry and decrease the proportion of the second indus-try,thus optimize the industrial structure.And FDI’s industrial structure adjust-ment effect behaves inverse U trend.This is related to FDI’s income-leaking ef-fect,capital supply effect and technology spillover effect.And institution con-straint such as finance discriminating policies of the government and regional mar-ket segmentation is also related.This conclusion has important policy signifi-cance,and the government should actively utilize FDI and stress on improving in-stitution environment.