生产要素国际流动与经济增长质量:基于社会资源禀赋的调节效应

Foreign Direct Investment and the Quality of National Economic Growth: the Adjustment Effect Based on Social Resource Endowment

生产要素国际流动与经济增长质量之间存在何种关系?这种关系是否受东道国社会资源禀赋的影响?在理论分析了以外商直接投资为载体的生产要素国际流动的经济效益及其与东道国社会资源禀赋的生产合作关系后,文章利用2004~2017年的跨国数据检验了外商直接投资对东道国经济增长质量的影响以及对社会资源禀赋的调节作用。实证结果发现,以外商直接投资为载体的生产要素国际流动对一国经济增长质量的影响并不明显,对经济增长质量各构成指标的影响不同。在进行了交互项回归检验和边际作用检验后发现,社会资源禀赋对外商直接投资的影响存在显著的调节效应。进一步的研究发现,社会资源禀赋能够通过不同传导路径影响外商直接投资作用经济增长质量;营商环境和制度质量较好的国家更能发挥社会资源禀赋的积极调节作用;相较于发达国家,发展中国家社会资源禀赋的调节效应更大,但具体调节方向存在差异。

What is the relationship between international flow of production factors and the quality of economic growth and whether this relationship is affected by the social resource endowment of the host country? In theoretical analysis of the foreign direct investment as the carrier of the economic benefits of the international movement of production factors and its relationship with the host country social resources endowment production,this paper uses the transnational data from 2004 to 2017 to test the influence of foreign direct investment on the economic growth quality of the host country and the regulating effect of social resource endowment. The empirical results show that the international flow of production factors with foreign direct investment as the carrier does not have obvious influence on the quality of a country’s economic growth,and the influence on the quality of economic growth is different. After the interactive regression test and marginal function test,it is found that the social resource endowment has significant moderating effect on the influence of FDI. Further research shows that social resource endowment can influence the economic growth quality of FDI through different transmission paths. Countries with better business environment and institutional quality are better able to exert the positive adjustment role of social resource endowment. Compared with developed countries,developing countries have a larger regulating effect of social resource endowment,but the specific direction of regulation is different.