外资进入和我国企业的生产率：“溢出”抑或“挤出”效应

我国改革和开放是同时推进的，引进了众多外资企业来推动我国经济发展。那么，外资企业的进入是否有助于我国内资企业的成长？本文分析我国工业企业超大样本数据，探讨外资进入的影响，研究我国内资企业的生产率能否向效率前沿收敛。结果发现，我国不同类型的内资企业均存在效率前沿的收敛趋势，内外资企业生产率差距不断缩小。外资进入对我国内资企业的短期影响主要表现为溢出效应，但是对于同行业的其他外资企业呈现挤出效应，特别是其他独资外企。我们进一步发现外资进入的长期影响是挤出效应，但是对于国有企业和民营企业的影响却不尽相同。

Foreign Investment and Productivity of Local Firms in China： Spiilover or Crowd- out

Entry of foreign firms plays an important role in changing the productivity efficiency of the local finns in China. With the largest unbalanced panel dataset of the Chinese industrial enterprises, we find that the gap between the Chinese domestic enterprises and foreign firms is decreasing. There is a trend that the Chinese firms converge to the efficiency frontier. We also find that foreign investment brings about positive spillover effects on domestic enterprises, but steal the market shares of the incumbent foreign enterprises. The joint ventures suffer less than the firms fully owned by the foreign investors. However, the crowd -out effects are dominant in the long run. Whether the local firms are owned by the government complex the influence of foreign investmenL The FDI crowds out state - owned finns in the short term, but the spillover effect of FDI bring into being in the long run, which are rather different from the family -owned finns in China.