汇率波动与FDI区位分布——基于辖区间财政竞争视角的研究

为了获取相对的竞争优势,辖区政府会通过策略性财政政策影响砌的区位分布.文章利用中国省级面板数据,实证分析人民币汇率波动通过改变辖区政府的财政竞争策略,从而影响FI)I区位分布的实际效应.研究表明,人民币汇率升值会弱化FDI流入量与辖区政府财政支出竞争程度两者的正向关系,此时依靠财政支出结构偏向基本建设的竞争策略将收效甚微.

Exchange Rate Fluctuation and Regional Distribution of FDI:From the Perspective of Local Fiscal Competition

To obtain comparative advantages,local governments tend to adopt strategic fiscal policies to attract the inflow of FDI.Based on provincial-level panel data in China,the paper makes an empirical study on the effect of the fluctuation of RMB exchange rate on regional distribution of FDI.The results find that the appreciation of RMB exchange rate can weaken the positive relation between the inflow of FDI and the competition degree of local fiscal expenditure,leading to the bad performance of competitive strat...