官方发展援助对FDI的影响效果研究——基于包含制度变量的动态面板模型检验

The Impact of Official Development Aid on FDI——Based on the Dynamic Panel Model with Institution Variable

通过将官方发展援助划分为经济基础设施部门援助、社会基础设施部门援助、生产部门援助以及其他部门援助(包括一般预算支持和债务援助),研究了不同制度下各部门援助对FDI的影响,并利用动态面板模型对72个亚非国家的援助数据进行了实证检验。结果显示,若不考虑制度因素,经济基础设施援助和社会基础设施援助会正向影响FDI,生产部门援助和其他部门援助会负向影响FDI;若考虑制度影响,受援国的总体制度水平会正向影响各部门援助对FDI的效果,政治稳定性、腐败控制、公众参与度会正向影响各部门援助对FDI的效果,政策质量会负向影响各部门援助对FDI的效果。此外,法律环境会正向影响生产部门援助和其他部门援助对FDI的效果,政府效率会负向影响社会基础设施部门援助和经济基础设施部门援助对FDI的效果。

By dividing official development aid into social infrastructure sector, economic infrastructure sector, production sector and other sectors, we empirically test the impact of official development aid on FDI in different institutional environment. The results show that aid in social infrastructure sector and economic infrastructure sector have stimulative effect on FDI, but aid in production sector and other sectors have crowd-out effect. The variables voice and accountability, political stability and absence of violence, control of corruption have adding effect to the impact of sector aid on FDI, but regulatory quality has weakening effect. Rule of law has positive effect on the impact of production sector and other sector aid on FDI, while government effectiveness has negative effect.