国际贸易成本、制度环境与 FDI 区位分布--来自120个城市的经验证据

本文使用世界银行的城市数据定量比较了国际贸易成本与产权保护水平、契约执行效率和政府干预程度等制度环境对FDI区位分布的影响。研究发现，外企高度依赖国际市场，国际贸易成本显著影响了FDI区位分布；融资的便利和母国政府的支持，推行纵向一体化导致其产业链有闭合趋势等因素，使外企对当地制度环境并不敏感。本文分析表明有必要进行全国性运输改革，以提升中西部内陆地区对FDI的吸引力。

Trade Cost,Institution and FDI Location---Evide nce from 120 Cities in China

With data of 120 cities, this article makes a comparative study on the effects of international trade costs and institutional environment on FDI location.It is found that foreign companies are heavily dependent on international market and international trade costs affect the FDI location significantly.Foreign companies that enjoy financing convenience, home coun-try support, and the closing trend of industrial chain arising from vertical integration, are not sensitive to such institutional fac-tors as level of protection of property rights, contract execution efficiency, and the degree of government intervention.The re-sults suggest that it is necessary to conduct a national reform to the transportation system to build up the appeal of interior areas as FDI destinations.This conclusion has nothing to do with the sample selection and is not subject to the variable impact of in-frastructure, market size, foreign agglomeration and economic geography.