论文部分内容阅读
文章通过分析腐败对资本流动影响的理论机理,搜集整理了占我国对外直接投资额85%以上的58个代表性国家(地区)的样本数据,使用一阶差分GMM和系统GMM两种方法对我国对外直接投资和东道国政府清廉度之间的关系进行实证研究。首先验证了清廉政府对外资引力较大这一传统结论的正确性,同时认为发达国家因较高的政府清廉度成为我国投资者的首选,但腐败较为严重的发展中国家所存在的制度缺陷也可以为跨国投资者提供开拓国际市场的机会。研究结论不仅可以为我国对外直接投资区位的战略选择提供理论依据,而且可以为当前的反腐倡廉提供决策参考。
Through the analysis of the theoretical mechanism of the impact of corruption on capital flows, the article collected sample data of 58 representative countries (regions) accounting for more than 85% of China’s foreign direct investment. Using first-order differential GMM and system GMM, Empirical study on the relationship between FDI and host country government’s cleanliness. First of all, it verifies the correctness of the traditional conclusion that the clean government exerts a great attraction on foreign capital. At the same time, it holds that the developed countries have become the first choice of the investors in our country due to the high clean government of the government. However, the institutional defects of the developing countries with more serious corruption Can provide multinational investors the opportunity to explore the international market. The conclusion can not only provide a theoretical basis for the strategic choice of China’s FDI, but also provide a reference for the current anti-corruption campaign.