服务业与制造业对华FDI区位选择的差异——基于存量调整模型的实证研究

选取我国省级细分行业面板数据,利用存量调整模型,对服务业与制造业的对华FDI区位选择的差异进行了研究。结果表明:与经济发达国家不同,处于转轨阶段的中国制造业FDI存量调整到均衡水平的速度快于服务业;服务业和制造业跨国公司在中国投资时,服务业FDI看重市场规模和基础设施水平,受集聚因素的影响不显著,制造业则看重市场规模和劳动力成本,倾向于投资到产业集聚度高的地区。此外,由于政府优惠政策多向制造业倾斜,因而地方政府控制力越大越有利于吸引制造业FDI,而不利于吸引服务业FDI。

Differences in Service and Manufacturing Industry of FDI Location Factors to China:An Empirical Study based on Stock Adjustment Model

Using China provincial sub-industry panel data,based on stock adjustment model,this paper analyses the differences in service and manufacturing industry of FDI location factors to China.The results showed that: In the transition stage of China which is different from developed countries,FDI in manufacturing industry adjusts much faster to its desired level than services FDI due to the excessive government interventions to economic;When multinational companies invest to China,services FDI value the market size and infrastructure is insignificantly affected by agglomeration,at the same,time FDI in manufacturing industry driven by market size and labor cost trends to invest in high industrial agglomeration region.In addition,since the government′s favorable policies are inclined to attract investment to manufacturing industry,the greater the control of local governments,the more conducive is to attracting FDI in manufacturing industry,and the less conducive is to absorbing FDI in service industry.