政府清廉度、对外直接投资与经济增长

Clean Government Degree,Outward Foreign Direct Investment and Economic Growth

文章通过把腐败嵌入内生增长模型进行理论拓展研究,分析了政府清廉度、对外直接投资和经济增长三者之间的数理关系,构建静态面板模型和动态面板模型,利用中国2003-2014年的宏观统计数据,使用差分GMM和系统GMM两种估计方法进行实证对比研究。认为政府清廉度较高的东道国对外资的引力较大,跨国公司通过利润传导机制推动了投资国的经济增长;发展中国家存在的"制度缺陷"可以为投资者开拓东道国市场提供新的路径,也有利于投资国的经济增长;出口贸易、工资水平和人口数量对经济增长具有一定影响。研究结论不仅可以为我国企业更好地"走出去"提供重要的决策参考,而且可以为实现新一轮的经济增长提供科学的理论依据。

This paper, by embedding corruption within the endogenous growth model, makes a theoretical development study and analyzes the mathematical relationship of clean government degree, outward foreign direct investment and economic growth, builds the static panel data model and the dynamic panel data model, applies both the difference GMM and the system GMM estimation methods to carry out an empirical comparative study by using China＇ s macro statistic data from 2003 to 2014. The paper believes that the host country with high clean government degree has a greater attraction to foreign capital, and multinational companies promote the economic growth in the host countries through the profit transmission mechanism; Tile ＂institutional defects＂ of developing countries can provide a new path for investors to open up the market in the host coun- try, promote the economic growth in the host countries;Export trade, wage level and the population have a certain impact on the economic growth. The study conclusions can not only provide an important decision-making reference for Chinese enter- prises to ＂go global＂, but also offer a scientific theoretical basis for achieving a new round of economic growth.