中国OFDI区位选择的实证分析

An Empirical Analysis of Chinese Outward Foreign Direct Investment Location Selection

采用2009-2017年与我国有对外直接投资关系的34个国家的面板数据做影响因素的实证研究,结果显示,东道国的GDP、两国首都间的地理距离、法制抑制了我国的对外直接投资,两国间的双边贸易量、东道国对腐败的控制能力对直接投资为显著的正相关影响,而东道国的劳动力成本和政治稳定对中国的对外直接投资影响并不显著,无明显关系。最终就我国对外直接投资影响因素得出结论,寻求动机为市场和资源寻求型占主导,并且我国倾向于投资有贸易往来和已经成功投资的周边文化相近的国家,在被投资国的政策支持下,有较强的"风险偏好"性。

Based on the panel data of 34 countries in China’s FDI relationship from 2009 to 2017, an empirical research on the influencing factors has been carried out. The results show that the host country’s GDP and the geographical distance between the two capitals and the legal system have restrained China’s foreign direct investment. Bilateral trade volume between the two countries and the host country’s ability to control corruption have a significant positive correlation with FDI, while the host country’s labor costs and political stability have no significant impact on China’s outward direct investment. Finally, a conclusion has thus been drawn on the influencing factors of China’s foreign direct investment, with its seeking motive dominated by the market and resource-seeking type. China, with a strong"risk preference"under the policy support of the recipient countries, tends to invest in countries with similar surrounding cultures with trade contacts and successful investment.