外资准入政策与资源优化配置

Foreign Investment Access Policy and Optimal Allocation of Resources

改革开放40多年以来,外商投资是中国经济发展的主要动力之一,同时也对资源优化配置产生多方面影响。以2002年《外商投资产业指导目录》的调整作为准自然实验,具体分析外资准入政策放松对资源优化配置的影响。研究表明:外资准入政策显著地增大了城市-行业层面生产率的离散度,不利于资源的优化配置;但是,从企业层面来看,外资准入政策提高了规制放松行业中企业的平均生产率;除此之外,外资准入政策在地区、企业性质和创新能力等方面的影响存在显著差异,政策效力主要体现在东部地区、非国有企业和创新能力较强的行业。因此,中国进一步扩大外资开放程度和改革外资准入政策时,应考虑到外资准入政策放松对企业生产率和资源优化配置的双重影响。

Since the reform and opening up for more than 40 years,foreign investment policy has a profound impact on China's economic development,and it may also have a profound impact on the optimal allocation of resources.This paper takes the adjustment of the catalogue of foreign investment industries in 2002 as a case study,and specifically studies the impact of the relaxation of foreign investment access policies on the optimal allocation of resources.The results show that:foreign investment access policy significantly increases the dispersion of city industry level productivity,which is not conducive to the optimal allocation of resources;however,from the enterprise level,foreign investment access policy improves the average productivity of enterprises in deregulated industries;in addition,there are significant differences in the impact of foreign investment access policy on regions,enterprise nature and innovation ability differences,the effectiveness of policy is mainly reflected in the eastern region,non-state-owned and innovative industries.This study provides a valuable policy basis for China to further expand the opening-up of foreign investment and foreign policy reform.