外商直接投资的退出效应与绩效检验

文章摒弃了“从FDI进入研究东道国溢出效应”的传统思路，强调FDI退出对东道国的受益（贡献）情况。文章进一步利用2008-2013年间两位码分类的中国工业动态面板数据，估计了FDI退出对工业全要素生产率的效应。研究发现：FDI退出对中国工业绩效的影响呈现出显著的差异性，以追求研发创新和高端人才优势为战略动机的探索型FDI退出抑制了中国工业绩效的改善，而以国际分工和产业转移为投资目标的利用型FDI退出则有利于整体工业水平的提升，其对工业绩效改善的贡献呈递增之势。

The Withdrawal Effects and Performance Test of Foreign Direct Investment

Instead of following traditional idea “studying the spillover effect of the host country from the starting point of FDI”, the withdrawal effect of FDI on the host country is emphasized in this paper. Further efforts are made to estimate the effect of FDI withdrawal on industrial total factor productivity by using the two-code classified dynamic panel data of China's industry from 2008 to 2013. The results reveal that the effect of FDI withdrawal on performance of China's industry show significant difference; the withdrawal of exploratory FDI whose strategic drives are to pursue R&D and innovation and seek high-end talents advantages limits the performance improvement of China's industry; however, the withdrawal of the utilization-type FDI whose investment objectives center on international division of labor and industrial transfer can help to improve the overall industrial level and has a tendency of progressive increase for the performance improvement of industry.