外商直接投资对东道国创业的影响

The Impact of Foreign Direct Investment on Host Country’s Entrepreneurship

基于创业知识溢出理论,使用2001-2017年GEM、UNCTAD及WDI等59个经济体的非平衡面板数据,采用随机效应模型、工具变量法和中介效应模型实证分析了FDI对东道国创业活跃度及创业结构的影响。研究表明:FDI显著提高东道国整体创业活跃度,即FDI促进创业;FDI显著提高东道国机会型创业比例及国际创业比例,即FDI优化创业结构。在进一步的机制分析中发现,FDI通过提高潜在创业者对创业机会的识别及降低潜在创业者对创业失败的恐惧来促进东道国的整体创业活跃度。

Based on FDI spillover theory of entrepreneurship,this paper analyzes the impact of FDI on entrepreneurial activity and entrepreneurial structure in host countries through the random effect model,IV and mediation effect model by using unbalanced panel data of 59 economies from 2001 to 2017 with GEM,UNCTAD,and WDI.The empirical results show that FDI significantly improves the overall entrepreneurship activity,opportunity-driven entrepreneurship activity and international entrepreneurship activity,that is,FDI promotes entrepreneurship activity.This paper also show that FDI significantly increases the proportion of opportunity-driven entrepreneurship and international entrepreneurship,that is,FDI optimizes entrepreneurship structure.In the further mechanism analysis,this paper finds that FDI promotes the overall entrepreneurial activity of the host country by improving the identification of entrepreneurial opportunities and reducing the fear of entrepreneurial failure.