“一带一路”沿线国家投资便利化测评与中国对外直接投资

构建投资便利化衡量体系,并运用主成分分析法计算“一带一路”沿线48个国家的投资便利化水平。在确定沿线国家投资便利化得分的条件下,采用固定效应的检验方法考察2008-2016年沿线国家投资便利化水平对中国OFDI的影响。结果表明：投资便利化、国内生产总值、人口数量对中国对外直接投资存在正向拉动作用;而东道国与投资国的距离对OFDI呈负向影响。未来中国应积极推广“一带一路”沿线国家的基础设施建设,逐步提升合作国的投资便利化水平;并通过推动区域投资一体化,带动跨国企业对沿线国家的投资。

The Measure and Evaluation of Investment Facilitation of "Belt & Road" Countries and China's Outward Foreign Direct Investment

This paper systematically constructs the measure system of investment facilitation, and use the principal component analysis to evaluate the level of investment facilitation by 48 "Belt & Road" countries. Base on the score of investment facilitation, we establish the fixed effect model and analyze the impact of investment facilitation on China''s foreign direct investment in 48 countries we selected from 2008 to 2016. The research manifests that the level of investment facilitation, GDP, and population have a positive significant effect on China''s OFDI, however the distance between investment country and host country shows negative effect on OFDI. Therefore, China should improve the investment facilitation of "Belt & Road" countries through promoting the infrastructure construction, and then strength the development of regional integration, so that it will stimulate the multinational enterprises to invest in "Belt & Road" countries.