金融市场、FDI与全要素生产率增长

本文主要研究金融市场对外商直接投资的影响及其作用渠道。本文运用我国28个省、市、自治区的面板数据进行实证分析,研究结果表明,当前我国金融市场发展不平衡,金融市场影响FDI促进经济增长以及其作用渠道在我国东、中、西部各有不同。在完善的金融市场支撑下,FDI外溢效应得以释放,FDI通过提高TFP推动经济增长;在金融市场发展落后的地区,物质资本的积累依然是经济增长受益于FDI的主要渠道。

Financial Development,FDI and Total Facor Productivity

Financial market is the important connection between foreign direct investment(FDI) and economic growth.Financial market efficiency has a direct effect on the economic growth of the host country.However,the domestic financial market influences FDI to promote the economic growth of the host country through certain channels.This paper analyzed the channels in which FDI was influenced by the domestic financial market to promote the economic growth.The results indicate that the financial development has different influence on FDI to promote the economic growth of China because the development of financial market is unbalanced in different regions of China.