优化营商环境与外资企业FDI动机——市场寻求抑或效率寻求

在优化营商环境已成为当前发展中国家引资竞争新优势的背景下,针对优化营商环境影响外资企业FDI动机的考察变得尤为重要。本文在构建企业层面营商环境指数的基础上,考察了发展中国家优化营商环境影响外资企业FDI动机的机制及效应。结论表明:优化营商环境减弱(增强)了外资企业的市场(效率)寻求型FDI动机;内资企业竞争力的增强、外资企业特惠资源的取消和加工贸易型外资企业的存在,使得优化营商环境降低了外资企业的生产率,进而市场(效率)寻求型FDI动机减弱(增强)。细分样本的考察发现,上述结论仅存在于独资企业、工业和低收入国家的外资企业中,对于合资企业、服务业和高收入国家的外资企业,优化营商环境对其FDI动机无显著影响,且生产率的中介效应不存在。本研究从优化营商环境的视角为当前中国引资政策的制定提供了更为具体的政策启示。

Optimizing Business Environment and FDI Motivation——Market Seeking or Efficiency Seeking

Against the background that optimizing the business environment(OBE)has become a new competitive advantage of attracting foreign investment for developing countries,it is crucial to Study its effects on FDI motivations of foreign-owned enterprises.This paper examines the effects and mechanisms of FDI motivations of foreign-owned enterprises influenced by OBE in developing countries.Tire mulls show that OBE weakens(enhances)lire FDI motivation of market(efficiency)seeking of foreign-owned enteqirises,because lire elevation of competitiveness of domestic enterprises,the withdrawal of preferential resources for foreign-owned enterprises and the existence of foreign invested processing trade enteqtrises make the OBE reduce lite productivity of foreign-owned enterprises.A furliter investigation of subsamples finds that the above conclusions only hold in the solely foreign-owned enterprises and industries and foreign-owned enterprises in low-income countries.For the joint ventures,foreign-owned service enterprises and foreign-owned enteqtrises in hijdi-income countries,OBE has no significant effects on their FDI motivations,ami lite mediating effect of productivity does not exist yet.This paper from the perspective of OBE provide more specific policy enlightenment for the formulation of China's current foreign investment absorbing policy.