摘要
本文利用2005~2014年中国对63个国家(地区)的OFDI流量数据,运用Heckman两阶段选择模型和投资引力模型,从母国投资动机和东道国制度质量的双重视角,分析中国OFDI的投资选择和投资规模的特征。结果表明:中国OFDI投资选择倾向于政治制度质量高、经济自由度高、法制完善、文化差异小的东道国。资源寻求型OFDI偏好政治制度好的东道国,市场寻求型OFDI偏好经济自由度高的东道国,技术寻求型OFDI对制度质量的依赖比较弱。
Based on the OFDI flow data of 63 host countries from 2005 to 2014 , this paper employs two-stage Heckman selection model and modified investment gravity model to analyze the feature of OFDI choice and scales from dual constraint perspectives of investment motivation of the home country and institutional quality of the host countries. The results show that China’s OFDI prefers to a host country with high political quality, high economic freedom, perfect legal system and small cultural difference. Resource-seeking OFDI prefers to a host country of good political system, mar-ket-seeking OFDI prefers to a host country of high economic freedom, and technology-seeking OFDI has the week dependence on the high institutional quality.
出处
《世界经济探索》
2017年第3期47-58,共12页
World Economic Research
