外商投资产业政策对外资溢出效应的影响——基于中国制造业行业的面板检验

The Influence of Foreign Investment Industrial Policies on Foreign Investment Spillover Effect: A Test Based on Chinese Manufacturing Industry's Panel Data

与以往对外资溢出研究主要集中在溢出渠道、溢出效应方向和大小不同,文章利用2003~2014年中国制造业27个行业的面板数据,从政策角度检验了外商投资产业政策在FDI对内资企业产生的技术溢出效应中的调节作用。检验结果表明:我国外资政策的进一步开放能更有效率地指导外资进入相应行业,并带来行业中内资企业生产效率的提升。其中,港澳台资本带来的更多是技术效率的提升,而外商资本则体现在技术水平的提升。并且,港澳台资本在劳动密集型行业和资本密集型行业的技术溢出更明显,而外商资本的技术溢出则更多体现在技术密集型行业。另外,滞后一期的稳健性检验也支持上述结论。

Differing from the previous researches mainly focusing on foreign capital overflow spillover channel, direction and size, this paper tests the adjustment of the foreign investment industrial policies on FDI technology spillover effect by using 27 Chinese manufacturing in- dustries＇ panel data from 2003 to 2014. The test results show that the further opening of our country＇s foreign policy could guide foreign investment into the corresponding industry more effectively, and promote the efficiency of domestic enterprises. Among the countries and regions, the capital from Hong Kong, Macao and Taiwan more promotes the efficiency of technology, while the foreign capital is more embodied in the promotion of technical level. And the technology spillover in labor-intensive and capital-intensive industries is moreobvious in Hong Kong, Macao and Taiwan＇s capital, while the technology spillover of the foreign capital is more reflected in technology-intensive industries. In addition, the result of the bustness test also supports this conclusion. lagged roo