城镇化对外商直接投资影响的实证研究

An Empirical Study of the Effect of Urbanization on FDI

运用空间纠正Sys-GMM法实证研究了城镇化对FDI的影响。结果发现:城镇化水平、城镇化速度、城镇化质量、FDI的数量、FDI的质量均存在空间自相关,FDI的数量和质量均存在空间溢出效应;我国城镇化水平和速度均促进了FDI数量的增加,但不利于FDI质量的提升,城镇化质量有助于FDI数量的增加和质量的提升,该结论也适用于东部地区县级市、中西部地区地级市和县级市。地级以上城市城镇化水平和质量均促进了FDI数量的增加和质量的提升,该类城市城镇化速度对FDI数量的影响不显著,但却显著提升了FDI的质量,该结论也适用于每个地区地级以上城市和东部地区地级市。

Adopting the spatial correction system GMM model, this paper empirically studies the effect of urbanization on FDI. It is found that spatial auto-correlation exists in the level, rate and quality of urbanization as well as the quantity and quality of FDI which in the meantime create spatial spillover effect. The level and rate of urbanization both have promoted the growth of FDI in quantity, but not so in quality, while the quality of urbanization is conducive to the growth of FDI both in quantity and quality. These conclusions are also applicable to cities of county level in eastern China and to cities of both prefecture level and county level in central and western China. The level and quality of urbanization in cities of prefecture level and up have promoted the growth of FDI both in quantity and quality. Though it does not much increase the quantity of FDI, the rate of urbanization in such cities can significantly promote the quality of FDI. These conclusions are also applicable to cities of prefecture level in eastern China and cities of prefecture level and up in other areas.