摘要
自“一带一路”倡议提出以来,中国海外投资重点逐步转入“一带一路”沿线国家,沿线国家制度质量对中国企业对外直接投资产生了直接或间接的影响。文章基于2004—2018年中国对“一带一路”沿线50个国家直接投资数据,实证分析了东道国制度质量对中国对外直接投资的影响。研究结果表明:东道国腐败控制水平提升、市场经济环境更加自由,会正向影响中国对外直接投资,有利于促进中国企业提高对外直接投资效率并扩大投资规模,而法治水平导致的高贸易壁垒会对中国企业对外直接投资产生明显阻碍作用。此外,中国企业对沿线国家开展投资活动制度偏好具有高城市化率趋向性、弱基础设施规避性、高经济发展质量选择性。
Since the initiative of “Belt and Road” was put forward,the focus of China’s overseas investment has gradually shifted to the “Belt and Road” countries,and the institutional quality of these countries has had a direct or indirect impact on the OFDI of Chinese enterprises. Based on the data of China’s direct investment in 50 “Belt and Road” countries from 2004 to 2018,this paper empirically analyzes the impact of the host country’s institutional quality on China’s OFDI.The results show that the improvement of the level of corruption control in the host country and the freer market economic environment will positively affect China’s OFDI,promote Chinese enterprises to improve the efficiency of OFDI and expand the scale of investment,and the high trade barriers caused by the level of rule of law will significantly hinder Chinese enterprises’ OFDI. In addition,the institutional preference of Chinese enterprises for investment activities in the“Belt and Road”countries has the tendency of high urbanization rate,weak infrastructure avoidance,and high quality selectivity of economic development.
作者
张海伟
郑林雨
陈胜发
ZHANG Haiwei;ZHENG Linyu;CHEN Shengfa(School of Economics,Shandong University of Technology,Zibo 255000,China)
出处
《华东经济管理》
CSSCI
北大核心
2022年第1期53-63,共11页
East China Economic Management
基金
国家社会科学基金青年项目“‘一带一路’沿线国家价值链嵌入对经济周期联动的影响及对策研究”(19CJL045)。
