摘要
本文旨在考察中国不断增加的对外直接投资是否有助于改善资源错配。基于中国分省份面板数据,在测度各地区资本错配和劳动力错配指数的基础上,本文通过构建静态和动态面板计量模型,实证考察了对外直接投资对中国资源错配的影响。研究发现,考察期内,中国各地区均存在着一定程度的资本和劳动力错配,并且地区间有明显的差别;资源错配存在显著的路径依赖性,过去的资源错配会影响当期的资源错配水平;对外直接投资显著地改善了中国整体资本和劳动力的资源错配,提高了资源配置效率。在替换不同的资源错配衡量指标之后,结果仍然稳健。进一步研究发现,对外直接投资对资源错配的改善作用存在着地区差异,并且地区间产能过剩水平以及资源错配方向的不同也会对估计结果产生影响。本文的启示在于,在中国稳步推进"一带一路"倡议的大背景下,政府相关部门应积极鼓励企业"走出去"进行海外直接投资,藉此改善国内的资源错配和产能过剩,推动经济发展方式的转型升级。
The purpose of this study is to investigate whether China＇s increasing outward foreign direct investment can help to improve the resource misallocation. Based on the measurement of regional capital mismatch index and labor mismatch index, and the application of provincial panel data in China, this paper builds the static and dynamic panel model to study the influence of outward foreign direct investment on resource misallocation in China. It is founded that. there are a certain degree of capital and labor misallocation in every province of China during the period of investigation, and there is a significant difference in the degree of misallocation between regions. In addition, there is a certain path dependence of resource misallocation, which means that the past level of misallocation has an impact on the current resource misallocation. We also find that outward foreign direct investment can improve the misallocation of capital and labor resources in China significantly, thus improving the efficiency of resource allocation. This result is still robust in exchange for different resource mismatch indexes. Further studies have found that there are regional differences in the role of outward foreign direct investment in the allocation of resources mismatch. The difference between the level of overcapacity and the direction of misallocation will also affect the estimation results. The implication of this paper is that the government departments should actively encourage enterprises to go out for overseas direct investment in the context of ＂the Belt and Road Initiatives＂, to improve the domestic misallocation of resources and to promote the transformation and upgrading of economic development mode.
出处
《中国工业经济》
CSSCI
北大核心
2018年第1期60-78,共19页
China Industrial Economics
基金
国家自然科学基金面上项目"协同创新与空间关联对区域创新绩效的影响机理及实证研究"(批准号71573138)
教育部人文社会科学研究专项任务项目(工程科技人才培养研究)"基于目标导向的工程人才创造力提升路径研究"(批准号16JDGC009)
江苏省高校哲学社会科学研究重点项目"高校科技成果的产权化及产业化问题研究"(批准号2016ZDIXM022)
关键词
对外直接投资
资本错配
劳动力错配
outward foreign direct investment
capital misallocation
labor misallocation
