FDI资本挤入(挤出)效应的内在机制及其“门槛特征”研究——理论推导与面板门限实证检验

The Research of the Internal Mechanism of FDI Capital Crowd(out) Effects and the "Threshold Feature"

本文首先给出了资本挤入(挤出)的内在机制和基本原理,随后利用经济学经典模型进行了数理推导和验证。根据数理模型推导结果,提出了"技术势能"、外资投资规模、潜在市场规模等存在"门限特征"等四个命题。在此基础上,本文利用我国高技术产业的数据根据理论推导模型的结论,通过构造"面板门限回归"模型来对FDI资本挤入(挤出)效应的影响因素及其"门限特征"进行进一步的实证检验。实证检验基本验证了以上命题假设。

This paper gives the internal mechanism and the basic principles of capital squeeze （out）effect, and then uses mathematical models to derive and validate. According to the results of mathematical model, we propose four propositions which are ＂Threshold characteristics＂ in ＂technical potential＂, foreign investment, and potential market size. On this basis, we use data from our high-tech industry, and construct a ＂panel threshold regression＂ model to further empirical test of FDI capital Crowd （out）effect and ＂Threshold characteristics＂. Empirical verification verifies the basic assumptions.