美国FDI进入中国的基本特征与决定因素——基于省级面板数据的实证分析

Characteristics and Determinants of U.S.FDI in China: An Empirical Analysis Based on Provincial Panel Data

改革开放以来,美国在华直接投资增长迅猛,并主要进入到了江苏、山东、辽宁、上海、广东等省区。美国对华直接投资主要集中在资本密集型和技术密集型部门,在中国的美国FDI主要是占领中国本地市场,而不是将其在中国的产品用于出口。本文结论显示,FDI集聚效应会引起美国FDI进入中国内地规模的绝对水平和相对水平显著增加。税收比率降低、高速公路里程数量提高和劳动工资提高,对美国FDI进入中国内地规模绝对水平变动和相对水平变动均无显著影响;对外贸易依存度提高会使得美国FDI进入中国内地陆规模绝对减少并相对减少。国有企业固定资产投资规模增加会引起美国FDI进入中国内地规模的绝对水平显著增加。

U.S.FDI in China,which primarily focuses on capital-intensive and technical-intensive sectors and is aimed to occupy China＇s local markets rather than export,has grown rapidly since China＇s reform and opening-up and mainly occurs in Jiangsu,Shandong,Liaoning,Shanghai,Guangdong,and so on.The results show that FDI agglomeration gives rise to the significant increase in the absolute and relative scales of U.S.FDI in China.The reduction in tax rates and the increase in highway mileages and labor wages have no significant effects on the changes in the absolute and relative scales of U.S.FDI in China;the increase in foreign trade dependence results in the reduction in the absolute and relative scales of U.S.FDI in China.And the increase in the investment of state-owned enterprises in fixed assets leads to the significant increase in the absolute scale of U.S.FDI in China.