融资效率、劳动力流动与FDI溢出

从宏观层面来看，FDI企业的技术水平总体高于国内企业，当劳动力由FDI企业转向国内企业或建立新企业从而引致技术溢出，而新企业的建立势必涉及到融资这一事实，本文认为融资效率高低在促进劳动力流动进而引起FDI溢出方面起着重要作用，融资效率的提高会提高劳动力由FDI企业流出建立自己的企业从而加速技术溢出的可能，意味着劳动力流动产生的技术溢出同时增加了FDI企业和国内企业的产出，即增加整个社会的边际产出。围绕这些问题，本文针对FDI溢出效应将放大金融市场对经济增长的影响的问题展开了一定层次的论证，结果显示：融资效率与FDI的联合作用并没有对经济增长产生显著影响，表明通过劳动力流动这一途径发生的FDI溢出从宏观层面上来看并不明显。

On Financing efficiency, Worker Mobility and FDI Spillover

From a macro view,the level of techniques in FDI is generally higher than that in domestic enterprises.When workers move from foreign-owned firms to domestic or to establish a new firm,FDI spillover will turn true.And a new firm needs finance from financial market.Based on this view,this article holds that financing efficiency has an important effect on worker mobility and FDI spillover.The improvement of financing efficiency will increase the possibility of worker mobility,which means that FDI spillover increases the outputs of foreign-owned firms and domestic firms at the same time.Around these problems,this article analyses the effect of financial market on economic growth,and the effect will be enlarged by FDI spillover.Based on data in China,we can conclude that the associative action of FDI and financing efficiency has no dominant effects on economic growth,which means that FDI spillover due to worker mobility doesn't happen obviously.