贸易产品结构与对外直接投资对日元国际化的影响——基于空间杜宾模型的实证分析

The Effects of Foreign Trade Commodity Structure and Outward FDI on the International Status of the Yen——An Empirical Study based on Spatial Durbin Model

贸易产品结构与对外直接投资活动对日元国际化的进展产生了重要影响。在考察日元国际化发展状况的基础上,本文通过空间面板数据分析考察了日本的贸易产品结构和对外直接投资对日元国际地位的直接影响与空间溢出效应。结果表明,以中间品为代表的差异化产品出口比重增加有助于日元国际地位的提升,然而东亚地区的"三角贸易"模式削弱了这一作用;而日本的进口品结构对日元国际化形成了阻碍。日本的对外直接投资对于日元国际化有明显积极的空间溢出效应,但由于投资性质与分布的特点,其直接效应并不显著。

Foreign trade commodity structure and outward FDI are of the most important causes for the difficulties in Yen Internationalization.Based on the study on the development of Yen internationalization,this paper analyzed the effect of Japan＇s bilateral trade structure and outward FDI on yen internationalization and spatial spillover effects by using spatial panel data model.The results show that the increase of export in intermediate goods can promote the use of yen in international trade area; however,due to the existence of ＂ Triangular Trade＂ pattern in East Asia,this positive effect is greatly weakened and the unreasonable import structure hinders yen internationalization.Meanwhile,Japan＇s outward FDI has a positive spatial spillover effect on yen internationalization but the effect is not significant due to the nature and distribution of investment.