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金融市场的发展程度是东道国吸收外商直接投资的一个重要因素。运用我国28个省际面板数据,利用现代分位数回归分析技术实证分析了我国金融市场、外商直接投资与经济增长之间的作用机制。结果显示:金融市场的发展程度对经济增长的直接影响和外商直接投资通过金融市场对经济增长的间接影响均与经济发展阶段和区域差异有显著关联;其次,相比传统分析方法,分位数技术可以更细致地显现经济变量之间的作用轨迹。
The development of financial markets is an important factor for host countries to absorb foreign direct investment. Using the panel data of 28 provinces in our country, we use the modern quantile regression analysis technique to analyze the function mechanism of our financial market, foreign direct investment and economic growth. The results show that the direct impact of the degree of financial market development on economic growth and the indirect impact of FDI on the economic growth through financial markets are both significantly related to the stage of economic development and regional differences. Secondly, compared with the traditional analysis methods, the quantile Technology can more closely visualize the trajectory of economic variables.