东道国外债规模与中国OFDI-基于发展中国家面板数据的研究

Empirical Research on Host Country Foreign Debt Scale and China's Outward Direct Investment——Study Based on Panel Data of Developing Countries

本文利用2003—2013年间中国对外直接投资跨国面板数据,采用系统GMM方法,实证研究发展中国家外债规模与中国OFDI的关系。研究发现,在发展中国家或地区,外债规模与中国对外直接投资存在正向关系。此外,我们还得到东道国外债规模均会弱化市场规模、自然资源、技术水平对中国OFDI的正向作用。

This paper uses the system GMM method and uses China’s foreign direct investment cross-country panel data from 2003 to 2013 to study the relationship between the scale of foreign debt of developing countries and China’s OFDI.The study finds that the scale of foreign debt and China’s foreign direct investment are positively correlated in developing countries or regions.In addition,we also get the conclusion that the host country’s foreign debt scale will weaken the market size,natural resources,technical level on China’s OFDI positive role.