【作者】 张卓；

【导师】 徐璋勇；

【作者基本信息】 西北大学 ， 金融学， 2008， 硕士

【摘要】 改革开放以来,特别是加入WTO以后,外商直接投资(FDI)以空前的速度在我国发展起来。迄今为止,我国已成为吸引外资最多的国家之一。但是,由于我国改革开放的梯次进行及其它政策、环境因素的影响,FDI在我国表现出明显的区域不平衡性。随着我国区域开放政策的改变,以及各地区对外资优惠政策的普遍实施,区域优惠政策对各地区吸引外资的作用有所减弱,外资的流向仍呈现出向基础设施较完善、市场运行机制较健全、外资存量较大的经济发达地区聚集的趋势。为了解释上述现象,东、中、西三区域不同阶段外商投资的区位决定因素的明晰和新时期影响外资地区分布的因素研究无疑具有重要的理论和现实意义。基于以上认识,本文结合邓宁的区位优势理论,从定性以及定量两个方面分析并说明造成外商在华直接投资分布不平衡的原因。从定性分析来讲,本文明晰了引资的决定因素并提出发展中国家引资假设。外资流向地区定位时需要考虑的是该地区的投资环境,它由五个因素构成,包括市场因素、劳动力因素、制度因素、集聚因素和环境因素。在邓宁区位优势理论的基础上,我们创新性的提出了发展中国家阶段性引资影响因素变迁的四个假设且对我国引资过程进行阶段划分。在定性分析的基础上,本文运用三阶段的各省1986年—2006年的Panel Data数据,选择包括平均王资、国民生产总值、居民人均消费、政策虚拟变量、累计外商直接投资等影响因素,用多元计量经济模型检验了这些因素对东部、中部、西部不同阶段吸引外资的影响,并测算了它们之间的定量关系。最后根据本文的理论与实证分析的研究结果,得出东部引资步入相对衰退阶段、中部引资处于由实验阶段向飞跃阶段的过渡期、西部引资已经进入飞跃阶段的结论。并对如何进一步改善我国各区域的投资环境、形成均衡发展的区域经济结构提出可行性的对策建议,重点分析了中、西部地区的引资策略。更多还原

【Abstract】 Since the reform and open door policy adopted, FDI in China has increased in a fairly high speed. So far, China has became one of the most active countries in absorbing the foreign direct investment (FDI). However, FDI in China shows the obvious regional imbalance for gradual implementation of the China’s reform and open door policy and other environmental factors. With the changes of regional opening policy and the universal implementation of the preference in foreign investment, the role of the preferences in absorbing foreign direct investment is weaken. The foreign investment shows to flow to the regions where have well-established infrastructure, sound market operating mechanism and large stock of foreign investment. In order to explain the above phenomena, it’s important and actual to study the factors which influence the distribution of FDI in east, middle and west areas. Based on the above realization and regional advantages theory of Dunning, the paper analyses the reasons that imbalance of FDI from two aspects, qualitative analysis and quantitative analysis.For the qualitative analysis, we need to consider the subjective factors such as market factors, labor factors, system factors, gathering factors and environmental factors. In addition, based on the regional advantages theory of Dunning, we propose four assumptions of stage determining factors of FDI of developing countries .On the base of the qualitative analysis, the paper use Panel Data of every province of three stages between year 1986 to year 2006, choose influencing factors including WAGE,GDP,POL,FE and others. We use multiple econometric model to test impact of these factors on absorbing FDI of east, middle and west areas and estimate quantitative relations between them.Finally, under this theoretical and empirical analysis of the study results, we , have reached a conclusion that the eastern part has passed into the phase of recession, the middle part has passed into the phase of transition period between experimental stage and leap stage and the western part has passed into the phase of leap stage in attracting investment. What is more, we put forward suggestions of how to improve regional investment environment of China and how to form a balanced regional economic structure, focusing on the strategy of middle and western areas’ attracting investment.更多还原