海外交通基础设施布局、形成模式与中国对外直接投资区位选择

Overseas Transportation Infrastructure Layout,Formation Modes,and Chinese Outward Foreign Direct Investment Location Choice

本文使用一组关于中国海外交通基础设施项目的独特跨国链接数据,对中国海外交通基础设施布局及其形成模式与中国对外直接投资区位选择的关系进行实证分析,结果表明:中国在东道国的交通基础设施布局显著促进了中国的对外直接投资,其中工程承包和援助模式下的基础设施布局的促进作用大于投资模式,且该过程产生了较强的跨国互联互通效应;机制检验结果显示,该效应可通过成本削减和集聚促进的直接渠道及双边关系改善和地区安全威胁消弭的间接渠道实现;此外,海外交通基础设施布局的对外直接投资驱动效应在与跨国企业战略、东道国空间分异、时间动态演变三者的互动中产生了广泛的异质性。

Using a unique merged country-level dataset involving China’s overseas transportation infrastructure projects,this paper examines the impacts of China’s overseas transportation infrastructure layout and its formation modes on Chinese outward foreign direct investment(OFDI)location choice.Results show that China’s overseas transportation infrastructure layout in the host country significantly promotes Chinese OFDI.Specifically,the infrastructure layout based on the project contracting(PRO)and the assistance(AID)modes has greater positive effects than that from the investment(INV)mode,and this process yields strong cross-border connectivity effects between countries.Mechanism tests verify that the effect can be achieved through the direct channels of the cost reduction and the agglomeration promotion and the indirect channels of the bilateral relationship improvement and the regional security threat elimination.In addition,further analyses show that the OFDI promoting effect of the overseas transportation infrastructure layout presents extensive heterogeneity in the interaction with the multinational enterprise strategy,the host countries’spatial differentiation,and the dynamic evolution of time.