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文章从新制度经济学的角度出发,分析国家间高层领导政治互动与我国FDI规模及其相对波动程度的关系,并运用1992-2010期间的有关面板数据进行实证检验。实证研究表明:我国与投资国双边高层领导的政治互动显著提高了我国FDI的规模,降低FDI的相对波动水平。但在不同分位点上,双边高层领导政治互动的作用有所差异。具体而言,当FDI规模较小时,双边高层领导政治互动对投资规模的促进作用较强;当FDI的相对波动程度较大时,双边高层领导政治互动降低投资相对波动程度的作用越显著。
From the perspective of new institutional economics, the article analyzes the relationship between top-level political interaction among countries and the scale of FDI in our country and the relative degree of volatility. Empirical tests are carried out by using panel data during 1992-2010. The empirical study shows that the political interaction between the top leaders of our country and the investing country significantly increases the size of our FDI and reduces the relative volatility of FDI. However, at different points, the roles of top-level leaders in bilateral political interaction are different. Specifically, when the size of FDI is relatively small, bilateral top-level leaders’ political interaction plays a stronger role in promoting the scale of investment. When the relative volatility of FDI is relatively large, the interaction between top-level leaders in bilateral politics reduces the relative volatility of investment more significantly.