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本文基于制度变迁视角,考察和评估市场化程度在决定地区FDI流入中的作用。利用中国省级面板数据进行实证研究结果显示,市场化水平的提高对地区FDI流入的具有显著的促进效应。市场化进程在决定中国各地区FDI流入中发挥重要作用。市场化进程的代理变量在不同模型以及加入各种控制变量之后,均显示了对FDI流入的一致的显著效应。市场化进程是地区FDI流入的一个非常稳健的因素。而且,与其他控制变量对FDI流入的影响效应相比,市场化的影响最为显著。因此,市场化是跨国企业对中国各地区进行投资时会考虑的最关键的因素之一。
Based on the perspective of institutional change, this paper examines and evaluates the role of marketization in determining regional FDI inflows. Empirical study using Chinese provincial panel data shows that the increase of marketization has a significant promotion effect on FDI inflow in the region. The marketization process plays an important role in determining FDI inflows in various regions of China. The proxy variables of the marketization process show a consistent and significant effect on FDI inflow after different models and various control variables are added. The marketization process is a very robust factor in the FDI inflows in the region. Moreover, compared with the effects of other control variables on the inflow of FDI, marketization has the most significant impact. Therefore, marketization is one of the most crucial factors multinational corporations will consider when investing in various regions of China.