境外园区对中国对外直接投资的影响研究——基于“一带一路”沿线国家面板数据的分析

Study on the Influence of Overseas Parks on China’s OFDI——Based on the Panel Data of Countries Along “the Belt and Road”

境外园区日益成为共建“一带一路”的重要载体,其对扩大中国对外直接投资、推动参与国家经济发展具有重要意义。文章利用2003-2017年中国在“一带一路”沿线参与建设的82个园区的数据,采用系统GMM方法研究境外园区建设对中国对外直接投资的影响。研究表明:境外园区建设能显著促进中国对东道国的直接投资;分类型来看,加工制造型园区与资源利用型园区促进中国投资的作用最为明显,其次为多元综合型园区,商贸物流型园区促进作用最弱;分区域来看,中国在东南亚与南亚参与建设的园区能显著扩大中国投资,但欧洲与非洲的境外园区建设对中国对外直接投资暂时存在负向影响,中亚与西亚地区园区建设的投资促进效应尚不明显。以上研究结论可为中国境外园区建设的进一步发展、创新中国在对外开放新阶段参与国际合作模式提供相关政策建议。

Overseas parks have increasingly become an important carrier for global co-construction of"the Belt and Road",which is of great significance for expanding China's foreign direct investment and promoting China's participation in national economic development.Based on the data of 82 parks that China participated in the construction along"the Belt and Road"from 2003 to 2017,this paper uses systematic GMM method to study the impact of the construction of overseas parks on China's OFDI.The results show that the construction of overseas parks can significantly promote China's direct investment in the host country.In terms of types,processing and manufacturing parks and resource utilization parks have the most obvious role in promoting Chinese investment,followed by diversified comprehensive parks,and commercial and logistics parks have the weakest role in promoting Chinese investment.From a regional perspective,China's participation in the construction of parks in southeast Asia and south Asia can significantly expand China's investment,but the construction of overseas parks in Europe and Africa temporarily has a negative impact on China's OFDI,and the investment promotion effect of the construction of parks in central Asia and west Asia is not yet obvious.The above research conclusions can provide reference suggestions for the further development of China's overseas park construction and the innovation of China's participation in international cooperation mode in the new stage of opening to the outside world.