北京工商大学学报
(
社会科学版
)摇 摇 摇 摇 2015
年
摇
第
5
期
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Impact of Institutional Environment on Regional Distribution of Foreign
Investment
:
Evidences from 120 Representative Cities in China
YANG Zhenyu
1,2
(
1. China Center for Service Sector Research
,
Sun Yat鄄sen University
,
Guangzhou
,
Guangdong 510275
,
China
;
2. Faculty of Management and Economics
,
Kunming University of Science and Technology
,
Kunming
,
Yunnan 650093
,
China
)
Abstract
: 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 distribu鄄
tion 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.
Key Words
: institutional environment; foreign investment; regional distribution;property right; contract; government inter鄄
vention
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