The impact of electricity prices on foreign direct investment: evidence from the European Union

We examine the impact of electricity price variation on net FDI (%GDP) inflows in countries of the European Union. We use panel data of 27 EU countries for a period of 2003 – 2013. We show that electricity prices of south-western and north-eastern EU countries did not converge to one price until now. Dynamic panel data analysis using system GMM shows that besides unit labour costs, tax rates and competitive disadvantage in secondary education, also higher electricity prices reduce countries’ ability to attract FDI. The immediate effects are statistically significant across both sub-regions analysed: in the short run, a 10% increase in electricity prices leads to a decrease in net FDI inflows as a share of GDP by 0.4 percentage points for the south-western and 0.33 for the north-eastern region. In the long run, the response is 0.60 percentage points for south-western and 0.48 for north-eastern regions. Policies should aim at reducing electricity market price differences on the European level through investment in transborder transmission capacity; reductions in FDI, when environmental policy increases after-tax electricity prices, should be countered by other tax reductions as well as harmonization of property rights, absence of corruption and labour market regulations at best-practice level.     

Where a contract is signed determines its value: Chinese provincial variation in utilized vs. contracted FDI flows

There are major differences between ex ante corporate investment plans and ex post investments. The case of China is useful for understanding this problem because there is substantial time series and cross sectional variation in the ratio of utilized to contracted FDI (UC ratio), which is less than one in most province-year observations. Provinces may believe that they are rewarded for reporting higher levels of contracted FDI, which would lead to lower UC ratios and higher policy incentives in subsequent years. Alternatively, provinces may be rewarded for reporting data more accurately, which would lead to higher UC ratios and policy incentives in subsequent years. Empirical analysis supports the second, institutional theory and suggests that provinces may increase their rate of utilizing pledged FDI by strengthening their legal systems and reducing government bureaucracy.     

FDI对中国技术进步的贡献效应实证分析

外商直接投资(FDI)的经济效应问题一直是理论有多大贡献,学者们的研究结论还存在着较大的分歧.本文运用索洛测算技术进步的"余值"方法,选取中国1985年至2004年区间样本数据作为经济变量,从宏观角度分析了FDI对中国技术进步的影响效应.得出的结论是,引进FDI对促进中国的技术进步效果甚微,其原因和对策如何,需要认真研究.     

China’s direct investment in the European Union: challenges and policy responses

The dramatic rise of Chinese direct investment into the European Union (EU) has sparked a debate about the control that China may be seeking to take over European economies. Quite naturally, these concerns have led to repeated calls that action be taken to slow down, if not to halt entirely, this growing trend. The objective of the article is to shed light on this debate. Following a thorough analysis of Chinese direct investment in the EU, this article suggests that the challenges posed by these inflows are widely overblown. Despite this, the article concludes that it is necessary to have a systematic approach to regulating inbound foreign investment (including from China) in the EU. Such an approach may help guard against the risk of a protectionist drift inside the EU, as well as the possibility that some investors may one day pose a threat to national security. This article concludes that although the current fragmented regulatory approach is unsatisfactory, because of the difficulties associated with a unified EU-wide review process, the most realistic option is to promote a more systematic and coordinated use of existing mechanisms such as competition policy. Also, pushing for the negotiation of a China–EU BIT is certainly a promising avenue to enhance the EU’s bargaining leverage based on the principle of positive reciprocity.     

The determinants of foreign direct investment into European transition economies

Using a panel dataset of bilateral flows of foreign direct investment (FDI), we study the determinants of FDI from Western countries, mainly in the European Union (EU), to Central and Eastern European ones. We find the most important influences to be unit labor costs, gravity factors, market size, and proximity. Interestingly, host country risk proves not to be a significant determinant. Our empirical work also indicates that announcements about EU Accession proposals have an impact on FDI for the future member countries. Journal of Comparative Economics 32 (4) (2004) 775–787.     

我国对外直接投资理论研究综述

对外直接投资是我国企业发展到一定阶段的必然选择，而我国关于对外直接投资的理论研究无疑对于指导我国企业的FDI活动具有重要的意义。因此本文在研究国外对外直接投资理论的基础上，着重综述了我国学者的相关研究成果．以明确以后的方向。     

The Political Economy of Brexit and the Future of British Capitalism First Symposium

The political economy of Brexit generates new challenges for the UK’s national business model and for European capitalism more broadly. Two symposia examine the implications of the UK’s withdrawal from the EU in key economic policy areas. These symposia contribute to two main bodies of academic literature: the political economy literature on varieties of capitalism, with a specific focus on the UK, and the political economy literature on key economic policy areas of the EU. This short introduction to the first symposium first outlines the key features of the British variety of capitalism and highlight the main questions raised by Brexit in that respect. It then summarises the main findings of the papers of the first symposium and tease out some common themes.     

外商直接投资对中国对外贸易影响的实证分析

本文以中国和其它24个国家或地区的最近3年的外贸和外资的实际数据为基础,用统计计量学方法对外商直接投资(FDI)和国际贸易关系进行实证研究,定量论证了FDI的贸易促进作用,在此基础上,还对中国与各个国家或地区之间贸易规模差异进行了阐述.     

FDI对我国制造业就业结构的影响

本文使用1999-2007年我国制造业的面板数据分析外商直接投资（FDI）对我国制造业行业间和行业内就业结构变化的影响。在FDI的影响下,行业间就业结构呈低端化,但是行业内就业结构得到优化。FDI通过促进劳动密集型行业的就业增长带动了制造业的就业增加,同时劳动密集型行业劳动力从内资流向外资的情况也较严重,即FDI主要通过增加自身的就业而非内资的就业带动了我国就业数量的增长。行业内就业结构来看,技术密集型行业就业结构得到优化的结果比劳动密集型行业要明显。其中竞争效应促进了内资就业结构的升级,但存在高技能劳动力从内资企业流向外资企业的情况。总体上增加就业和提升就业结构的因素在于内资投资的增加。     

State-level FDI and within-occupation wage inequality in the United States

Our paper explores the relationship between inward foreign direct investment (FDI) and within-occupation wage inequality at the state level in the U.S. We argue that sectoral FDI may affect different occupations differently, and our study looks at possible heterogeneous effects of sectoral FDI on wage inequality for 22 occupations. Using data over 1999–2007, our results show that state-level manufacturing FDI tends to reduce wage inequality, measured by the ratio of the 90th percentile wage and the 10th percentile wage in an occupation. Manufacturing FDI is significantly associated with less wage inequality in the production occupations and the construction and extraction occupations. In contrast, non-manufacturing FDI is associated with increased within-occupation wage inequality in the arts, design, entertainment, sports, and media occupations, as well as the transportation and material moving occupations. Non-manufacturing FDI is associated with decreased wage inequality in the sales and related occupations.     

欧盟新能源产业政策的基本特征及启示

按照欧盟支持新能源产业政策发展的4个阶段,对其演变过程进行了分析;从科技及产业政策的一般构成要素出发,揭示了欧盟支持新能源产业发展政策的3个基本特征,即认清产业本质特征基础上的统一战略,以技术领先及社会机制构造为主的整体体系,创造符合自然生态的战略及政策实施环境和条件;并结合我国现有支持新能源产业发展政策及存在的问题,提出了若干建议和启示。     

欧洲2020战略旗舰计划：创新型联盟（下）

“创新型联盟”是欧洲2020战略七大旗舰计划之首,由欧委会2010年10月公布,欧盟理事会2011年2月批准,是欧盟未来10年的科研与创新战略文件。该战略以10年内把欧盟建设成为“创新型联盟”为目标,要求欧盟把创新作为首要和压倒一切的政策目标,提出了加强研发投入、提高资金使用效益、实现教育现代化、4年内建成统一的欧洲研究区、简化科研计划管理、促进成果产业化、实现欧盟单一专利、启动“欧洲创新伙伴”行动、推动社会创新、加强国际合作等十项工作重点,并提出部署相关配套措施,开展欧盟层面的科研与创新绩效监测工作,确保“创新型联盟”各项目标的实现。本文是“创新型联盟”旗舰计划的译稿,供国内相关部门参考。     

FDI对江西经济增长的贡献

投资水平严重不足,资金紧缺已成为制约江西经济发展的瓶颈。FDI可提升产业关联度、促进人力资源开发和产生技术溢出效应。江西FDI的战略定位构想是:建立生态产业集聚园、营造良好的投资环境、完善区域性资本市场、培养“本土化”的高级人才。     

外商投资对中国就业影响的实证分析

外商投资存在直接就业效应和间接就业效应,可以用外商投资流量和存量分别加以度量,运用中国1984～2005年的数据进行计量分析的结论表明：1993年以前外商投资的直接就业效应非常显著,负的间接就业效应也很显著;1993年以后年外商投资的直接就业效应减小。负的间接就业效应也减弱。     

欧洲2020战略旗舰计划：创新型联盟（上）

“创新型联盟”是欧洲2020战略七大旗舰计划之首,由欧委会2010年10月公布,欧盟理事会2011年2月批准,是欧盟未来10年的科研与创新战略文件。该战略以10年内把欧盟建设成为“创新型联盟”为目标,要求欧盟把创新作为首要和压倒一切的政策目标,提出了加强研发投入、提高资金使用效益、实现教育现代化、4年内建成统一的欧洲研究区、简化科研计划管理、促进成果产业化、实现欧盟单一专利、启动“欧洲创新伙伴”行动、推动社会创新、加强国际合作等十项工作重点,并提出部署相关配套措施,开展欧盟层面的科研与创新绩效监测工作,确保“创新型联盟”各项目标的实现。本文是“创新型联盟”旗舰计划的译稿,供国内相关部门参考。     

欧盟发布战略能源技术计划欲抢占低碳能源技术制高点

文章分析了欧盟战略能源技术计划提出的背景,综述了计划确定的欧盟未来十年面临的技术挑战以及欧委会提出的四个方面具体措施建议。欧委会认为,欧盟在应对气候变化方面处于全球领先的地位,为保证欧盟减排政策目标的实现,欧盟应该抢占低碳能源技术的制高点,领导世界低碳能源技术的发展。为此,欧委会在广泛征求各方意见的基础上,提出了未来十年需要解决的关键技术,并提出了联合编制战略计划、采取具体措施保证计划有效实施、增加资源投入和建立统一而有差别的国际合作战略等四个方面的具体建议。     

从外汇储备增长看我国对外经济发展战略与政策的调整

我国的对外经济主要体现在外贸、外资和外汇三个方面。本文分析了近年来我国外汇储备加速增长带来的日趋严重的负面影响及其背后的体制和政策性原因,同时指出,化解我国对外经济领域矛盾的关键在于调整外贸、外资和外汇战略和政策,即从单一追求外贸顺差的发展战略向实施开放式的综合平衡式的外贸发展战略转变,从过度依赖“引进来”的利用外资战略向“引进来”与“走出去”相结合的资本战略转变,从强制结汇制向意愿结汇制转变。     

Complements or substitutes? New theoretical considerations and empirical evidence on the imports and FDI relationship in Central and Eastern European Countries

This paper addresses the imperative need to understand the relationship between inward FDI and trade by developing a new conceptual approach and providing empirical evidence. We use an expanded time dataset, from 1992 to 2008 and an enriched dataset of countries, sectors and location factors. In regards to the inward FDI versus imports relationship, results comply with our theoretical formulation and strongly indicate an overall complementarity with each other. In the case of FDI we find strong locational characteristics such as the large market size, the gradual improvement of the macro-environment and finally the quality of labour force to play a positive role.