投资便利化、外商直接投资与“一带一路”沿线国家全要素生产率

摘要当前,推进投资便利化和实现高质量发展成为“一带一路”倡议深入实施的重要内容。在理论分析的基础上,实证检验投资便利化如何通过FDI促进“一带一路”沿线国家TFP进步。研究发现:投资便利化建设有助于促进“一带一路”沿线国家TFP的提高,其机制主要是FDI(尤其是跨国并购)流入的外溢效应。基础设施、市场环境、制度质量、金融服务等不同类型的投资便利化建设,均有助于促进沿线国家TFP的提高。异质性分析表明,投资便利化建设对东南亚、西亚和中东欧地区沿线国家TFP的促进效应显著,对中亚、南亚和独联体地区沿线国家TFP的促进效应则不明显;投资便利化建设对高经济发展阶段沿线国家TFP的促进效应大于中低经济发展阶段的沿线国家;“一带一路”倡议提出后投资便利化建设对沿线国家TFP的促进效应比倡议提出前更大。

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	杨栋旭
	于津平

关键词： “一带一路”倡议投资便利化外商直接投资全要素生产率

Abstract： At present, promoting investment facilitation and achieving high-quality development have become an important part of the in-depth implementation of the “Belt & Road Initiative”. Based on theoretical analysis, this paper empirically examines how the investment facilitation promotes the progress of TFP in countries along the “Belt & Road” route through FDI. The study found that investment facilitation construction is helpful to improve the TFP of countries along the “Belt & Road Initiative”,?and its mechanism is mainly realized through the spillover effect of FDI (especially cross-border M&A) inflows. And different kinds of investment facilitation construction, such as infrastructure, market environment, system quality and financial services, all contribute to the improvement of TFP in countries along the route. Heterogeneity analysis shows that investment facilitation construction has a significant promoting effect on TFP in countries along the Southeast Asia, the West Asia, and the Central and Eastern Europe regions, but not obvious in countries along the Central Asia, the South Asia and CIS regions. The promoting effect of investment facilitation construction on TFP of countries along the high economic development stage is greater than that of the countries along the middle and low economic development stage. After the “Belt & Road initiative” is proposed, the promoting effect of of investment facilitation on the TFP of countries along the route is greater than before.

Keywords： Belt & Road Initiative Investment Facilitation FDI TFP

收稿日期 2020-07-04; 接受日期 ;

基金资助:国家社会科学基金重大研究专项项目(18VDL014)

作者简介: 杨栋旭(1992— ),男,山西陵川人,博士,讲师,主要从事国际投资研究;于津平(1964— ),男,江苏海安人,教授,博士生导师,主要从事国际贸易理论和政策研究。

引用本文:

杨栋旭, 于津平.投资便利化、外商直接投资与“一带一路”沿线国家全要素生产率[J]. 经济经纬, 2021,2: 54-63

YANG Dongxu¹, YU Jinping².Investment Facilitation, Foreign Direct Investment and Total Factor Productivity of Countries along the “Belt & Road”[J] Economic Survey, 2021,V38(2): 54-63

链接本文:

http://www.jjjw.org.cn/CN/ 或 http://www.jjjw.org.cn/CN/Y2021/V38/I2/54

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