外商投资与中国经济发展──产业和区域分析证据

本文将有关外商直接投资影响的分析 ,与中国经济的特定发展模式联系起来 ,从中得出两项分析结果。一是在产业发展层面 ,外商投资确实有助于改进资源配置效率 ,然而这种贡献却是以妨碍生产效率改进为代价的 ;二是在区域发展层面 ,以进口替代加资本深化为特征的“上海模式” ,在促进地区和全国经济发展方面 ,确实优于以出口导向加劳动密集为特征的“广东模式” ,只是前一模式本身存在着严重的可持续性问题

Assessing the Role of Foreign Direct Investment in China's Economic Development: Insights from Sectoral-regional Analyses

The objective of this paper is to assess the role of FDI in China's economic development with reference to the broader literature on FDI and late development. Two main findings come out from the analyses in the paper. First, it is found that FDI tends to promote the improvement in allocation efficiency, while having a negative impact on productive efficiency. Second, in the context of a comparative analysis of two distinctive regional models, it is found that the economic impact of FDI tends to be more favorable in the inward-looking, capital-deepening pattern of development (the ‘Shanghai model’) than that in the export-oriented, labour-intensive pattern (the ‘Guangdong model’). Further analyses suggest that the ‘Shanghai model’ has its intrinsic problems of sustainability. The scope for applying it to China as a whole is thus judged to be limited.