制度距离与外商直接投资--一项基于中国的经验研究

利用2000-2003年间69个投资国和地区的国别资料,本文分析了制度上的差异与作为东道国的中国吸引外商直接投资之间的关系.研究结果表明:文化制度差异越大,投资国在中国的直接投资越少;包括法律完善程度和私有财产保护程度在内的法律制度差异越大,投资国在中国的直接投资越少;贸易政策、货币政策、金融管制政策等宏观经济制度差异越大,投资国在中国的直接投资越少;政府干预程度、工资控制程度和市场规范程度等微观经济制度差异越大,投资国在中国的直接投资越少.在上述发现的基础上,本文提出了相应的政策建议.

Institutional Distance and Foreign Direct Investment: An Empirical Study Based on China' s Experience

This paper analyzes the influence of institutional distance on source country s foreign direct investment (FDI) in China. Using a database covering 69 countries or regions during 2000 - 2003 , the empirical results indicate that in general, institutional distance, including cultural distance, law system distance, macro economic system distance and micro economic system distance has a negative effect on FDI, presumably because the shift and adaptation costs form dissimilar institutional settings are high. Based on above findings, we present policy suggestion accordingly.