Macroeconomic Prospects for China's Outward FDI

被引：8
|
作者：
Alon, Ilan [1 ]
Molodtsova, Tanya [2 ]
Zhang, Jian [3 ]
机构：
[1] Rollins Coll, 1000 Holt Ave, Winter pk, FL 32719 USA
[2] Emory Univ, Dept Econ, Atlanta, GA 30322 USA
[3] World Bank, Washington, DC 20433 USA
来源：
TRANSNATIONAL CORPORATIONS REVIEW | 2012年 / 4卷 / 02期
关键词：
China; international trade; OFDI; exchange rate; gravity model;
D O I：
10.1080/19186444.2012.11658324
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We present evidence from panel data on overseas foreign direct investment (OFDI) by Chinese firms in 103 countries during 2003-2007. The data suggest that Chinese imports, unlike Chinese exports, stimulate investment in the country of origin. This article supports the theory that Chinese investment abroad is horizontal and designed to serve the Chinese local market (import platform investment). Estimates suggest that a 1% change in imports from China will lead to a 0.15% change in Chinese OFDI. We also find that an appreciation of the Chinese exchange rate will have a strong influence on firm entry decisions.
引用
收藏
页码：16 / 40
页数：25
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