中国外资引资效率变化及收敛性检验

Efficiency change and convergence test of attracting foreign direct investment in China

中国地区间经济发展不均衡的原因之一在于各地区投资环境的差异。投资环境建设与城市吸引外资之间存在投入与产出关系表现为外资引资效率。本文通过DEA-Malmquist模型计算2003—2019年间中国地级市外资引资效率并对其进行收敛性检验。研究结果表明:2003—2019年间,中国外资引资效率年均降幅为2.2%,这可能由外资引资技术进步缓慢引起;全国及各地区外资引资效率均存在δ收敛,其中中部地区收敛幅度最大;同时,全国及各地区内的外资引资效率存在绝对β收敛和条件β收敛,且绝对收敛的半生命周期超过40年。以上结论经过一系列稳健性检验后依然成立。此外,在探究外资引资效率收敛性的影响因素时发现劳动力成本、产业结构、贸易开放度以及财政支出对外资引资效率收敛具有显著的促进作用。基于以上研究结果,为提高外资引资效率、助力经济高质量发展提供了政策启示。

Investment environment is one of the factors that lead to the imbalanced economic development among different regions in China.There is an input-output relationship between construction of investment environment and foreign direct investment attraction,which is embodied in the efficiency of attracting foreign direct investment.This paper calculates the efficiency of attracting foreign direct investment in China′s prefecture-level cities from 2003 to 2019 with DEA-Malmquist model,and analyses the convergence.The results show that the efficiency of attracting foreign direct investment goes down by 2.2%from 2003 to 2019,which is probably due to the slow progress in attracting foreign direct investment.There isδconvergence in the efficiency of attracting foreign direct investment at both national and regional level,and the convergence is the largest in the central region.At the same time,there are absoluteβconvergence and conditionalβconvergence in the efficiency of attracting foreign direct investment at both national and regional level,and the half life cycle of absolute convergence is more than 40 years.The above conclusions are valid after a series of robustness tests.In addition,the research finds that labor cost,industrial structure,trade openness and fiscal expenditure have significantly promoted the convergence of the efficiency of attracting foreign direct investment.Based on the above research findings,policy suggestions are put forward to improve the efficiency of attracting foreign direct investment and promote the high-quality economic development.