国际直接投资发展趋向、障碍与对策:2008—2012

国际金融危机的冲击使欧美对外投资能力明显下降,中国等新兴市场国家的对外投资能力有所增强。2011年以来世界范围内发展国际直接投资面临以下现实因素制约:(1)发达国家的量化宽松政策,引起了金融资产价格上涨,并传导到实体部门的资产价格,提高了并购FDI的国际投资成本;(2)欧元区等国家货币有贬值要求,汇率风险加大,以及世界主要国家货币政策和财政政策空间有限,会恶化企业对外FDI的风险态度,减少FDI流出;(3)全球经济衰退,跨国公司产品缺少市场需求;(4)东道国为了弥补财政赤字和偿还债务,税收负担相对较重。

The Development Trend, Obstacle, and Countermeasure to World FDI of 2008 to 2012

The potential competitiveness of Euro and USA firms has declined obviously since 2008 while FDI by China and other emergency countries has witnessed a remarkable rising.The global FDI development has been subject to following obstacles after 2011.(1) The quantitative easing monetary policy has raised the capital price around the world;(2) Euro money is at risk of big depreciation with less room for expanding fiscal policy and monetary policy which will make firms more risk aversion to make investment oversea;(3) Multinational firms are faced by declined product demands due to world economy recession;(4) higher tax burden in host countries for the reason of big fiscal deficit.