区域经济一体化促进了外资流入吗?--基于长三角城市群的实证分析

Does Regional Economic Integration Promote FDI Inflows?--Empirical Research Based on the Urban Agglomeration of the Yangtze River Delta

本文从要素自由流动、市场规模效应和区域产业协作三个层面分析区域经济一体化影响外资流入内在机理,并且利用双向固定效应模型,以我国长三角城市群为例,实证检验了区域经济一体化对外资流入的影响。研究结果显示,提升长三角区域经济一体化水平促进了外资流入;进一步的异质性分析还表明,推进长三角区域经济一体化,一方面在整体上能有效带动服务业利用外资进入,但另一方面对其中的生产性服务业利用外资流入产生了负面影响。从利用外资规模和方式上看,提高区域经济一体化水平对规模以上和独资形式的利用外资流入,产生了较为显著的促进作用,但是对规模以下外资和合资形式的外资流入,影响不显著。在此基础上,本文借鉴制造业中心度的计算方法测度了长三角地区内部各地级市的外资中心度,并对区域经济一体化与外资中心度进行了实证检验,发现长三角区域经济一体化增强了非核心城市对外资的吸引力,这有利于缩小“外围地区”与“中心地区”的外资分布差距,从而更好地促进了长三角区域经济协调发展。

This paper analyzes the internal mechanism of regional economic integration s impact on foreign direct investment(FDI)inflows from three levels:free flow of factors,market scale effect and regional industrial collaboration.And taking the Yangtze River Delta as an example,the two-way fixed-effect model is employed to empirically test the impact of regional economic integration on FDI.The results show that the enhancement of regional economic integration in the Yangtze River Delta has promoted the inflow of FDI.The further analysis based on the heterogeneity of FDI shows that regional economic integration has effectively promoted the entry of FDI in service industry,but it has a negative impact on FDI in productive service industries which is a part of the service industry.From the perspectives of scale and style using FDI,it also has a positive effect on above-scale FDI and the form of sole FDI,but there is no significant impact on for FDI below-scale FDI and the form of cooperative FDI.Meanwhile,this paper uses the calculation of manufacturing centrality to measure the FDI centrality of various cities in the Yangtze River Delta and conducts an empirical research of regional economic integration on FDI centrality.It indicates that the development of the Yangtze River Delta regional economic integration process has increased FDI inflow to non-core cities,which reduces the distribution gap of FDI and promotes the economic development coordinated of the Yangtze River Delta region.