双向直接投资与中国经济高质量发展

Bi-directional FDI and the High-Quality Economic Development in China

引进来和走出去并重发展是中国实现经济高质量增长的重要途径。引进来拓展了中国融入世界经济的广度,发展了中国经济外延;走出去拓展了中国融入世界经济的深度,发展了中国经济内涵。引进来和走出去并重是中国经济从数量增长到质量增长的加速器。引进和利用外商直接投资,有利于通过竞争效应、联系效应和模仿效应等,提升中国经济质量。发展企业对外直接投资,有利于通过市场和资源获得效应、人力资本提升效应和逆向技术溢出效应等提升中国经济质量。吸引外商直接投资和发展对外直接投资并重,有助于中国经济在参与全球价值链分工的同时,有效提升中国经济国际竞争优势。基于省级面板数据的实证分析表明,引进外商直接投资和发展对外直接投资,均能促进中国经济增长和人均GDP提高,能够显著提高中国全要素生产率、助推中国技术进步,对劳动工资增加和发展高素质劳动要素有积极意义。要素高质量、产出高质量和效率提升内嵌于经济高质量增长过程。立足世界经济百年大变局,围绕经济高质量增长要求,不断完善利用外资政策和对外直接投资政策,协调好利用外资政策和对外直接投资政策,有序发展双向直接投资,可以更好地实现中国经济高质量增长。

It is an important way for China to achieve high-quality economic growth by IFDI and OFDI. IFDI has expanded the breadth of China’s integration into the world economy and has developed the extension of China’s economy,while OFDI has deepened China’s integration into the world economy and improved its economic quality. IFDI and OFDI is the accelerator of China’s economic growth from quantity to quality. The introduction and utilization of foreign direct investment is conducive to improving the quality of China’s economy through competition effect,linkage effect and imitation effect. The development of outward foreign direct investment is conducive to improving the quality of China’s economy through the acquisition of market and resources,the improvement of human capital and the reverse spillover effect of technology. Attracting and developing foreign direct investment can help China to enhance its international competitive advantage effectively while participating in the division of global value chain. The empirical analysis is based on the provincial panel data and the results show that both the IFDI and OFDI can significantly promote China’s economy growth and GDP per capita,improve China’s total factor productivity and technological progress,and have positively increased the real labor wages and the labor quality. The quality of factors and outputs is embedded in the process of high-quality economic growth. Based on the big changes of global economy in the century,it is an important method to realize the high-quality growth of China’s economy by improving the FDI policies and developing the two-way direct investment efficiently.