巴格瓦蒂假说与外国直接投资的社会效应

Bhagwati's Hypothesis and the Social Effects of FDI

如何评价外国直接投资（ＦＤＩ）的效应以及怎样对待ＦＤＩ和国内资本的问题，无论在理论上还是在实践上都值得探讨。本文在介绍巴拉苏布朗梅扬等人实证巴格瓦蒂假说的模型和结果的基础上，对假说和实证结论作了初步的评述。作者认为，假说和实证结论有参考意义，但应避免被其误导：ＦＤＩ的效应不可能超越其运作的经济、社会环境，ＦＤＩ也不能超越国内资本。

Either theoretically or practically, it is worth studying the effects of FDI and the problems related to it and the domestic investment. This article analyses the model and tests of Bhagwati's hypothesis by V. N. Balasubramanyam and M. Salisu and reaches the following conclusion: Bhagwati's hypothesis and the tests are valuable for reference, but the social effects of FDI depend on the actual economic and social situations and the productive elasticity of FDI is no superior to that of the domestic investment.