OFDI驱动母国投资的区域性差异研究

Research on Regional Differences of OFDI- driven Domestic Investment

基于地区视角,文章探讨了OFDI对母国投资产生的驱动效应差异及其原因。资源禀赋、出口市场规模和技术创新能力等因素在地区间存在异质性。这种异质性会干扰企业对外直接投资过程中的产品和资本流向,从而改变OFDI对国内投资的影响过程。对全国31个省份2004-2013年的数据进行动态面板和系统GMM回归的结果显示：对外直接投资对国内投资的影响确实存在地区差异。进一步的交叉项研究表明：资源禀赋并不是这些差异产生的主要原因;东部地区主要依赖出口规模扩大和技术能力提升两大途径来实现OFDI对国内投资的推动;中部地区通过获取外部资源,降低成本来增加国内投资;西部地区对外直接投资形成的技术溢出可能挤出母国投资。

This paper investigates the regional differences of foreign direct investment promoting domestic investment and their causes. Resource endowment, export market size and technological innovation capability will influence the effect of OFDI on domestic investment growth. By investigating the 31 provinces＇ nationwide panel data and using system GMM method, it finds that there are differences between regions in foreign direct investment stimulating domestic investment.Resource endowment has little impact on the cause of these differences. Compared to the east region, resource- seeking motivation is more obvious than the middle region. The lack of export competitiveness and independent innovation capacity in the western region has led to domestic investment loss.