治理环境与外资专用性投资——基于我国省际面板数据的经验证据

Governance Environment and FDI Specific Investment——Empirical Analysis on China’s Provincial Panel Data

利用手工搜集的我国1997—2016年各省份的FDI结构的数据实证检验了治理环境对外资专用性投资水平的影响,结果表明,地区治理环境与外资专用性投资显著正相关,市场化程度越高、政府干预程度越低及法治水平越高的地区,外资的专用性投资规模越高。区分不同利用外资方式的研究表明,相对于合资和合作两种形式,治理环境对以独资方式利用外资的专用性投资的正向关系更为显著。

This paper used the hand-collected FDI data for 30 provinces in China from 1997 to 2016 to test the governance environment’s impact on foreign investment and its functionary channel.The findings show that the regional governance environment is significantly positively correlated with FDI specific investment.The higher the degree of marketization,the lower the degree of government intervention and the higher the level of rule of law,the higher the scale of special foreign investment.Further study shows that,compared to joint ventures and cooperation forms,the wholly foreign-owned investment in the level of specific investment is more significantly affected by regional governance environment.This paper integrates governance environmental factors into the analysis of foreign specific investment,which enriches the literature about the research of foreign direct investment.