【作者】 冯涌；

【导师】 卢进勇；

【作者基本信息】 对外经济贸易大学 ， 国际贸易学， 2007， 博士

【摘要】 20世纪80年代以来,国际投资规范化进程加快。加强国际直接投资领域的法律合作,推动国际直接投资健康发展,扩大国际直接投资流动,成为当前世界经济领域的一个重要趋势。各国参与国际投资规范的初衷是促进本国FDI的流动,但事实表明,国际投资规范对各国的影响差别很大。有的国际投资规范对参与其中的成员国吸引FDI和推动对外FDI具有很强的促进作用,有的却影响甚微甚至是带来一定的负面影响。对于国际投资规范对FDI流动的影响以及国际投资规范的模式选择问题进行系统考察和全面把握,不仅具有重要的理论意义,而且在现实中对于一国制定参与国际投资规范的战略具有指导意义。目前我国正处于向市场经济转轨时期,参与国际投资规范的战略选择是建设法治国家的重要一环,因而探寻国际投资规范建设的经济原理,从中总结出国际投资规范的有效制度安排,对我国的改革实践具有重要的指导意义。本文较全面地综述了国际投资规范对FDI流动影响的理论和实证研究成果,探讨了国际投资规范对FDI流动的影响机制,从多个角度对国际投资规范的FDI流动效应进行了实证分析,并在此基础上提出了中国应采取的对策。主要研究内容包括导论部分、文献综述、现状分析、理论研究、实证研究和对策建议六大部分。在导论部分(第一章),主要介绍了本文的研究意义、界定了本文研究的基本概念、归纳了研究方法和总结了本文创新点。本文的创新主要有以下三点:首先,研究方法的创新。运用计量经济模型,从双边和区域两个角度对国际投资规范对FDI流动的影响进行了计量经济研究,并得出相关结论。其次,理论研究的创新。运用理论工具,从宏观和微观两个角度对国际投资规范对FDI流动的影响进行了理论研究,并得出相关结论。再次,文献综述。表现为较全面的回顾和总结了国际投资规范对FDI流动影响的理论研究文献和实证研究文献,并对这些文献作了一定的梳理和评述。在文献研究部分(第二章),从理论文献和实证文献两个角度梳理和归纳了国内外相关文献。通过对相关文献的分析发现,有关国际投资规范对FDI流动影响的研究已经成为国际直接投资研究中的重点和热点问题之一,而且研究角度越来越细化,研究方法也越来越趋向于数理模型和计量分析的结合。在现状研究部分(第三章),通过分析国际投资规范的发展历程和特点,探寻国际投资规范的发展趋势,从而为从理论和实证角度对国际投资规范对FDI流动影响的研究提供基础。在理论研究部分(第四章),运用法律经济学分析工具构建国际投资规范对FDI流动影响的理论分析框架。利用法律经济学经典理论探讨了国际投资规范存在的必要性和可行性问题以及国际投资规范中具体法律条款的投资效应,为下面的实证分析提供理论依据。实证研究部分是本文的核心与重点(第五章、第六章和第七章),借助相关计量模型,对国际投资规范对FDI流动的影响进行了实证分析。在对有关双边投资协定的实证分析方面:首先,运用面板数据考察了双边投资协定在总体上对FDI流动的影响,结论显示双边投资协定对FDI流动存在着积极影响;其次,运用面板数据考察了不同类型的双边投资协定对FDI流动的不同影响,结论显示美式双边投资协定对FDI流动的促进要好于欧式双边投资协定;最后,运用时间序列数据具体考察了中国参与的双边投资协定对中国吸引外资的动态影响,结果表明双边投资协定的签署促进了中国引入外资的数量。在对区域投资框架的实证分析方面:首先,运用面板数据考察了区域投资框架在总体上对FDI流动的影响,结论显示区域投资框架对FDI流动存在着积极影响;其次,运用时间序列数据具体考察了马来西亚参与的东盟对其吸引外资的动态影响,结果表明加入的签署促进了马来西亚引入外资。在对多边投资框架进行实证分析时:由于目前尚不存在一个真正意义上的多边投资框架,本文借助数理模型,从东道国和跨国公司谈判力的角度将多边投资框架对各国吸引FDI的影响加以量化,分析和探讨了现实中各国参与多边投资框架的经济动机。结论显示,一个多边投资框架的实现是未来国际投资规范化的必然发展方向,但是短期内不同类型国家从中获益不均,这是多边投资框架建设遭遇挫折的根本原因。在对策建议部分(第八章),通过考察中国的国际投资规范建设状况,并从计量经济模型的角度和国际投资规范对中国法制影响的角度进行了实证分析,提出我国参与国际投资规范以及通过国际投资规范促进FDI流动的相关建议。本文提出的相关政策建议主要有:准确定位,实现国际投资规范的目标多元化;积极参与,加强国际投资规范的制定;逐步完善,进一步推动现有国际投资规范内容的合理化;加强协调,进一步调整国内投资法律体系。尽管在写作中力求精益求精,但由于水平有限,本文存在一定的不足。本文的不足主要有三点:首先,变量的选择存在不足。现实中影响FDI的变量很多,本文计量经济模型中所选取的影响FDI的变量尽管已从多方面进行了考虑,但和现实还是有一定差距。今后可以拓宽变量的选择范围,以使经济模型更加合理。其次,样本时间的选择存在不足。样本时间选取的越长,计量经济模型越趋向合理,但由于数据获得问题,本文选取的样本时间不是足够长。今后可以加长样本时间,以使经济模型更加合理。再次,本文未对国际投资规范对FDI流动质量的影响进行计量经济检验。目前,许多国家越来越注重引入外资的质量,因此,对国际投资规范对FDI流动质量影响的研究应该是该领域未来的重点研究方向。更多还原

【Abstract】 Since the 1980s the world has been experiencing a new wave of international investment legal system. Enhancing legal cooperation in international direct investment, and promoting the healthy development of international direct investment, and putting forward international direct investment flow have become an important trend in the world economy.Member states initially desire to promote FDI flow through actively participating in international investment legal system; however, facts have proven the effects of international investment legal system on members vary greatly. Some international investment laws promoted member states’FDI growth and some resulted in little impacts even negative effects. Thus the analysis on FDI flow effects of international investment laws and mode selections are not only of great theoretical significance, but in reality is instructive for a country involved in such strategy. Currently, China’s economy is in the transition period, and the strategic choice to participate in international investment legal system is an important ring of constructing a legal country. Thus, it’s of great significance in guiding our reform and opening up to explore the economic principles of international investment legal system and summarize the effective system.This paper comprehensively overviews the theoretical and empirical research on FDI flow effect of international investment legal system, systematically analyses the mechanisms of the legal system affecting FDI flow, empirically analyses the FDI flow effect of international investment legal system from various angles, and based on this proposes countermeasures to be taken by China. The research task consists of five parts, that is, literature review, situation analysis, theoretical study, empirical research and suggestions and countermeasures.In the part of literature review, domestic and foreign related studies are sorted out and induced into the theoretical and empirical researches. Reference and analysis to relevant literature show that FDI flow effects of international investment legal system have become the key and hot issue in the study of FDI, and the study methods tend to combine mathematical models with metrology analysis.While analyzing the current situation, it tries to find out the development tendency of international investment legal system by analyzing the process and characteristics of the legal system, which can pave the way for probing into the FDI flow effects in the theoretical and empirical way.The third part’s theoretical study constructs theoretical framework for the FDI flow effects of international investment legal system using the tool of legal and economics analysis. The author analyzes the need and the feasibility of international investment legal system, and the FDI flow effects of specific legal provisions, providing theoretical fundamentals for the following empirical research.Empirical research, the crucial part of this thesis, is applied to analyze the FDI flow effects of international investment legal system with the aid of appropriate econometric models. As to the bilateral investment treaties empirical analysis: First, the paper inspects the FDI flow effects of the bilateral investment treaties using panel data and concludes that BIT has a positive impact on FDI inflow in general. Second, the paper inspects the different FDI flow effects of the different types of bilateral investment treaties and concludes that the effects of American bilateral investment treaties are better than the effects of European. Finally, the paper studies the dynamic effects of BIT on China’s FDI inflow and concluded that there exists a positive impact. As to the regional investment framework analysis: First, the paper inspects he FDI flow effects of the regional investment framework using panel data and concludes that regional investment framework has a positive impact on FDI inflow in general.Second, the paper studies the dynamic effects of regional investment framework on Malaysia’s FDI inflow and concluded that there exists a positive impact. As to the multilateral investment framework analysis: As there isn’t a multilateral investment framework in a real sense, the paper quantifies the FDI effects of member states from the perspective of negotiating power of the host country and multinational corporate and explores the motivates of member states to participate a multilateral investment framework. The conclusion shows that a multilateral investment framework is the future of the international investment legal system, but in short term, different types of member states get uneven benefits from it, which is the crucial reason of the set back of a multilateral investment framework.Finally, policy suggestions concerning the establishment and perfection of China’s construction for international investment legal system is brought forth via investigating China’s construction of the legal system and the empirical results. Main constructive suggestions and countermeasures are listed including: positioning correctly and diversifying objectives of international investment legal system; participating actively and strengthening setting of international investment legal system; coordinating more and adjust the domestic investment legal system further; perfecting gradually and improve the existing the content of international investment legal system further.更多还原