摘要
在国家间知识竞争日趋激烈的背景下,文章基于2008~2016年跨国数据就知识产权保护对中国对外直接投资(OFDI)区位选择的东道国效应和空间溢出效应展开检验与分析。文章研究结果发现,东道国知识产权保护水平的强化显著促进了中国OFDI的流入,直接机制检验显示该刺激效应可通过降低东道国交易成本和投资失败风险两条渠道实现。与之相对,知识产权保护区位的空间溢出效应主要表现为国家间的竞争效应,他国知识产权保护水平的提升会阻碍中国对东道国的OFDI,空间溢出机制检验表明该效应具有非对称性和全球性特征。关于OFDI进入模式和投资动机的异质性检验则显示,知识产权保护的OFDI促进效应对跨国并购和效率导向型投资的刺激作用较强,而对绿地投资、市场获取及技术导向型投资的带动作用较弱。文章可为中国知识产权涉外投资风险防控体系及预警机制的构建提供必要的实证依据。
In the context of increasingly fierce knowledge competition among countries,using a cross-country dataset over 2008~2016,this paper tests and analyzes the host-country and the spatial spillover effects of intellectual property protection on Chinese OFDI’s location choice.The results show that the strengthening intellectual property protection in the host country significantly promotes Chinese OFDI inflow.The direct mechanism test suggests that the stimulus effect can be realized by reducing the transaction cost and the investment-failure risk in host countries.By contrast,the spatial spillover effect of intellectual property protection location is mainly reflected in the competition effect among countries,which means the improvement of intellectual property protection level of other countries will hinder Chinese OFDI towards the host country.The spatial spillover mechanism test indicates that this effect has asymmetric and global features.Furthermore,heterogeneity analysis on OFDI entry mode and motivation shows that the OFDI promotion effect of intellectual property protection has a strong stimulating effect on the cross-border merger and acquisition and the efficiency-oriented investment,but a weak driving effect on the greenfield,the market-acquiring,and the technology-oriented OFDI.This paper provides the necessary empirical basis for the establishment of risk prevention and control system and early warning mechanism of China’s intellectual property involving overseas investment.
作者
黄友星
韩婷
赵艳平
Huang Youxing;Han Ting;Zhao Yanping
出处
《世界经济研究》
CSSCI
北大核心
2021年第9期81-98,M0003,M0004,共20页
World Economy Studies
基金
国家社会科学基金青年项目“基于FDI质量的在华外资企业空间创新溢出研究”(项目编号:20CJL012)的资助。
