影响中国对外直接投资区位选择因素研究

A Study on the Factors Influencing the Location Choice of China's Outward Foreign Direct Investment

文章利用2008-2017年中国对53个国家OFDI数据,基于投资引力型模型考察中国OFDI的区位选择问题。研究结果显示:对外直接投资存量、东道国燃料出口占总出口比重、双边贸易额、东道国的创新能力和东道国控制腐败的能力对中国直接投资的影响为显著的正相关性;东道国的国民生产总值、东道国矿石和金属出口占总出口的比重、东道国的GDP增长率、两国的距离、法治水平和政治稳定性抑制了中国直接投资;东道国人均国民生产总值、东道国的通货膨胀率和人均国民收入与中国直接投资无明显关系。

This paper studies China’s OFDI data for 53 countries from 2008 to 2017,and examines the China’s OFDI location choice based on investment type gravity model. The results show that the stock of OFDI,the proportion of host country’s fuel export to the total export,the bilateral trade volume,host country’s innovation ability and the ability to control corruption exhibit a significant positive correlation with China’s OFDI;the GDP of the host country,the proportion of ore and metal export of the host country to the total exports,the GDP growth rate of the host country,the distance between the two countries,the level of political stability and the rule of law all suppress China’s OFDI;the host country’s per capita GNP,the host country’s inflation rate and the per capita income exhibit no significant relationship with China’s OFDI.