政府投资、FDI与市场化进程——基于VAR的实证分析

Government Investment,FDI and Marketization——An Empirical Analysis Based on VAR

文章从实证的角度,利用1981—2008年数据,研究了中国政府投资、外商直接投资和市场化程度三者之间的关系。基于VAR的协整分析发现政府投资、外商直接投资和市场化程度之间存在长期均衡关系;脉冲响应函数分析显示,从短期来看,外商直接投资有利于中国市场化进程,而政府投资则相反。

This article makes an empirical analysis on the relationship among Chinese government investment, foreign direct investment and the marketization degree based on the data from 1981 to 2008. Co-integration analysis based on VAR finds that there is a long-term equilibrium relationship among the government investment,foreign direct investment and marketization;Impulse Response Function Analysis shows that in the short term,the foreign direct investment is conducive to China＇s marketization but the government investment is not.