【作者】 康蒸蒸；

【导师】 于永达；

【作者基本信息】 清华大学 ， 管理科学与工程， 2004， 硕士

【摘要】 同处长江三角洲的江苏省和浙江省在吸引外商直接投资(FDI)方面存在显著的差异,不论是吸引FDI的绝对量,还是相对指标(FDI业绩指数),江苏都远远超过浙江。本文假设FDI的供给因素不变,即只从对FDI的需求角度研究这一问题。论文首先比较了江苏和浙江的区位优势和外资优惠政策,结论是江苏和浙江的区位优势和外资优惠政策并无太大的差异,也无法从这两个角度合理解释两省吸引FDI的显著差异。然后论文在归纳总结相关文献的基础上,建立了制度基础分析框架,并用来解释江苏和浙江吸引FDI的显著差异。制度基础是相对于经济基础而言的,是从某地区的经济制度特征和政治制度特征、对外资政策以及对内资的政策出发,分析制度基础对外资和内资所产生的不同的激励和约束。经济基础对内资和外资不同的激励作用可以用“相对外资竞争力”来表示:制度基础对外资的激励高于对内资的激励的时候,其“相对外资竞争力”较高,对外资的需求也更大;制度基础对内资的激励高于对外资的激励的时候,其“相对外资竞争力”较低,对外资的需求也较小。本文建立的包含制度变量的FDI决定因素的模型,检验了不论在江苏还是在浙江,“相对外资竞争力”都与外商直接投资存在显著的正相关关系。因此,对江苏和浙江吸引FDI显著差异的一个可能的解释是:两省虽然在区位优势和外资优惠政策上相差不大,但两省对内资的激励明显不同,江苏的“相对外资竞争力”要高于浙江,从而导致了江苏和浙江吸引FDI的显著差距。更多还原

【Abstract】 There is a noticeable gap between Jiangsu Province and Zhejiang Province, both of which are located in Yangtse River Delta, in attracting foreign direct investment (FDI). Jiangsu has far surpassed Zhejiang in not only the absolute amount of FDI attracted but the relative indicators (FDI Performance Index) as well. The paper assumes that supply factors of FDI are constant, which means the analysis is only based on the demand of FDI.The paper first compares the location advantages and preferential policies in foreign investment of Jiangsu with those of Zhejiang, and draws the conclusion that no remarkable difference could be found between the two provinces in regard to these aspects, thus location advantages and preferential policies fail to well explain the notable gap between the two provinces in attracting FDI.Summarizing the relevant literature, the paper then builds an institutional foundation analytical framework to explain the prominent difference between Jiangsu and Zhejiang in attracting FDI.Institutional foundation is relative to economic foundation. The institutional foundation analytical framework takes into account a region’s special characteristics of its economic and political institution, its policies towards foreign and domestic investment, and analyses the different incentives and restraints the institutional foundation imposes on foreign and domestic investment respectively. Economic foundation’s different incentives to domestic and foreign investment can be indicated by “Relative Foreign Competitiveness”: While the institutional foundation puts more incentives on foreign investment than on domestic investment, the relative foreign competitiveness will accordingly reach a rather high level, which generates a greater demand for foreign investment, whereas while the institutional foundation puts more incentives on domestic investment than on foreign investment, the relative foreign competitiveness will accordingly decline, which leads to a reduced demand for <WP=5>foreign investment. The determinants of FDI model established in this paper include institutional variables. The model verifies that “relative foreign competitiveness” has a substantial positive correlation to FDI in both Jiangsu and Zhejiang.Therefore, a possible explanation to the sharp disparity between Jiangsu and Zhejiang in attracting FDI could be that although no big differences in location advantages and preferential policies are found between the two provinces, their incentives to domestic investment vary substantially, leading to a higher “relative foreign competitiveness” in Jiangsu than that in Zhejiang, which brings about a prominent gap between Jiangsu and Zhejiang in attracting FDI.更多还原