新兴经济体FDI流入的决定因素及中国的应对策略

The Determinants of FDI Inflows to Emerging Economies and China's Countermeasures

吸引FDI流入是新兴经济体促进经济发展的重要手段,但FDI活动深受东道国区位因素的广泛影响。利用1995-2009年的面板数据,对新兴经济体吸引FDI流入的决定因素进行实证分析,结果表明:FDI与东道国聚集效应、市场规模、基础设施、资源禀赋、经济开放度显著正相关,但与东道国人力资本和政治风险负相关。因此,中国应该强化FDI的区域聚集效应、行业聚集效应和特定投资来源地聚集效应,保持经济稳定、持续的增长,加大对落后地区的基础设施建设的投入,构建全方位的对外开放体系和引资战略,实现经济持续快速发展。

Attracting FDI inflows is an important means to promote economic development for emerging economies, but tile FDI activities are affected by the location factors of host country. Using 1995-2009 panel data, it empirically analyzes the determinants of FDI inflows. The results show that FDI and the host cluster effect, the market size, infrastructure, resource endowments, economic openness, are significant positive correlation, but FDI and human capital, host country political risk are negative correlation. Therefore, China should strengthen the FDI regional aggregation effect, industry effect of aggregation and specific source of investment aggregation effect, maintain economic stability.