文档介绍：外商直接投资技术溢出与人力资本吸收能力的实证研究
—协整、面板数据方法的应用
(1、首都经济贸易大学经济学院;2、首都经济贸易大学信息学院)
【摘要】本文运用协整分析方法,结合近20年统计数据,检验了外商直接投资与我之间的长期稳定关系。发现我之间存在着长期稳定的正向关系。通过葛兰杰因果关系检验,发现高等人力资本是经济增长的葛兰杰成因。本文运用面板数据模型,结合1999—2004全国30个省(除西藏自治区)的统计数据研究了外商投资在我国东、中、西部三大区域技术外溢效果和总体上对经济增长的贡献。发现东部地区外资与高素质人力资源相结合外溢效应明显,而中、西部地区外资与中等人力资本结合的效果要好于高等人力资本。本文还计算了使外资的外溢效果能够促进内资企业增长的人力资本临界值。同时,结合近年来外资在我国越来越多的兼并和收购这一现象,利用国内四大商业银行存、贷款的统计数据,讨论了金融中介机构的有效性对外资利用效率的影响。发现国内金融中介的扭曲程度越大,对内资企业的危害也越大。并且计算了金融中介机构扭曲程度的“门槛”值。
关键词外商直接投资、技术外溢、人力资本、金融中介效率
Foreign Direct Investment Technology Spillovers and Human Absorptive Capacity
—By the method of Co-integration Analysis and Panel Data
Abstract: This paper focuses on the role of absorptive capacity in determining whether or not domestic firms benef
it from productivity spillovers from foreign direct investment (FDI) using industrial output level data for mainland China.
Firstly, by using co-integration analysis and Granger Causality test, the author finds that only tertiary human capital has a long-term causality relationship with China’s economic growth. Secondly, this paper establishes panel data regression models for eastern, middle, and western region in mainland China, respectively, and the result of which are informative: 1) in all the 3 regions , when es to financial intermediates, financial repression in the biggest 4 state-owned banks dose have a significantly negative effect on domestic firms’ performance. 2) In eastern part of China, the spillover effect from bination of FDI and tertiary human capital is much higher than those in the middle and western provinces where FDI seems to cooperate well with local intermediate human capital. 3) This paper calculates human capital thresholds for both tertiary and intermediate human capital in middle and western regions.
Keywords: FDI, spillovers, human capital, financial intermediates
一、引言
弥补投资缺口只是外商直接投资促进中国经济增长的贡献之一。先进的设备、管理理念、对下游企业效率的促进等随着外商直接投资流入伴随而来的“副产品”,即外商投资技术溢出才是我国政府和国内企业越来越看中的。然而,进一步的