【摘要】 分析中国与“一带一路”沿线国家政策沟通、设施联通、贸易畅通、资金融通以及民心相通的五通共生环境对中国对外直接投资（OFDI）效率作用机理，并提出理论假说。基于2011—2019年“一带一路”沿线56个国家的面板数据，构建中国与沿线国家共生环境水平评价体系，通过时变随机前沿模型实证研究中国与沿线国家共生环境与中国OFDI效率之间的关系。研究表明：“一带一路”倡议下中国与沿线国家所形成的国际互惠共生环境会显著提升中国OFDI效率。从五通视角看，政策沟通、贸易畅通、资金融通以及民心相通的共生环境水平不同程度地显著促进中国OFDI效率；设施联通共生环境水平与中国OFDI效率之间呈现显著的“U”型关系。研究结论为逆全球化背景下中国优化国际互惠共生关系和提升对外直接投资效率提供了政策思路。更多还原

【Abstract】 This paper analyzes the mechanism of the five links symbiotic environment on China’s OFDI efficiency,between China and countries along the“the Belt and Road”in terms of policy coordination,facilities connectivity,unimpeded trade,financial integration and people-to-people bond,and puts forward theoretical hypotheses.Based on the panel data of 56 countries along the“the Belt and Road”from 2011 to 2019,the paper construct an evaluation system for the symbiosis environment level between China and countries along the“the Belt and Road”,and empirically test the influence of symbiosis environment level on the efficiency of China’s OFDI through time-varying stochastic frontier model.The research shows that the international mutually beneficial symbiotic environment between China and countries along the“the Belt and Road”will significantly improve the efficiency of China’s OFDI.From the perspective of five links,the symbiosis environment level of policy coordination,unimpeded trade,financial integration and people-to-people bond will significantly promote the efficiency of China’s OFDI to varying degrees.There is a significant U-shaped relationship between the symbiosis environment level of facilities connectivity and China’s OFDI efficiency.The research conclusion provides policy implications for China to optimize the international mutually beneficial symbiotic relationship and improve foreign direct investment under the background of anti-globalization.更多还原