制度环境对外资区域分布的影响:来自中国120个典型城市的证据

Impact of Institutional Environment on Regional Distribution of Foreign Investment:Evidences from 120 Representative Cities in China

中文关键词:  制度环境  外资  区域分布  产权  契约  政府干预

英文关键词:institutional environment  foreign investment  regional distribution  property right  contract  government intervention

中文摘要:

      文章论证了由产权保护、契约执行和政府干预三项制度变量构成的区域制度环境与在华外资区域分布之间的联系。通过对中国30个省级辖区中120个典型城市的计量检验发现,城市层面和省区层面产权保护、契约执行制度环境的改善以及政府干预水平的降低,均能促进城市中外资的流入,提高城市工业部门中的外资渗透度,其中省区层面制度变量的影响更为显著和稳定。在排除地缘因素和城市等级的影响后,上述结论依然稳健。此外,城市间各异的运输成本、工业基础和集聚水平、政策优惠也会影响外资分布。这为理解在华外资的区域分布失衡提供了新视角,也为阐释中国以对内改革推动对外开放的内在机制提供了经验支持。

英文摘要:

      This paper examines the relevance of regional institutional environment in China,which is measured by 3institutional variables such as property right protection, contract execution and government intervention, to its regional distribution of foreign investment. Through a quantitative inspection in 120 representative cities in 30 provincial prefectures,it is testified thatat both municipal and provincial levels,a better institutional environment for property right protection and contract execution as well as less government intervention can help bring in more foreign investment inflows into the cities, thus increase the share of foreign investment in urban industrial sectors, witha more remarkable and stable impact of the institutional variables at provincial level. The findings remain firm even after the effects of geographic factors and municipal hierarchy are excluded. Besides, the distribution of foreign investment is also subject to different transportation costs, industrial bases and agglomeration levelamong specific cities. With that, a new perspectiveis provided to explain the uneven distribution of foreign investment in China and an empirical support is rendered to elaborate on theintrinsic mechanism forChina to push forward its opening up to the worldwith its domestic reform. 