發(fā)布時間：2018-05-02 08:03

  本文選題：投資自由化 + 外向投資自由化��； 參考：《對外經(jīng)濟貿(mào)易大學(xué)》2016年博士論文

【摘要】：中國自實施“走出去”戰(zhàn)略以來對外向投資政策進行了重大改革,同時每年許多國家都對其內(nèi)向投資政策進行調(diào)整,總體上來說,中國的外向投資政策正朝著自由化的方向發(fā)展,世界各國的內(nèi)向投資政策大部分也趨向自由化。本文認為一國的對外直接投資規(guī)模受到該國外向投資政策和相關(guān)東道國內(nèi)向投資政策的影響,母國外向投資政策又可以分為外向投資國家政策和外向投資國際政策,東道國內(nèi)向投資政策同樣也可以分為內(nèi)向投資國家政策和內(nèi)向投資國際政策,其中國家政策指一國在國內(nèi)自主實施的與直接投資相關(guān)的政策,國際政策指一國通過與他國簽署國際投資協(xié)議而形成的與直接投資相關(guān)的政策。中國對外直接投資規(guī)模持續(xù)快速增長,2012-2014年中國對外直接投資流量額都位居全球第三,本文以中國對外直接投資規(guī)模為研究對象,分別從中國和東道國的角度分析了投資自由化對中國對外直接投資規(guī)模的影響。全文共分為6章。第1章為引言,概要介紹選題背景及意義,明確研究內(nèi)容及目標(biāo),確定研究思路及方法,并對核心概念進行界定,最后簡要概括本論文的創(chuàng)新點及不足之處。第2章為文獻回顧,對研究投資自由化及投資自由化效應(yīng)的文獻進行回顧,概括目前學(xué)者在該領(lǐng)域已取得的學(xué)術(shù)成果,總結(jié)出尚未引起大量關(guān)注的研究領(lǐng)域,為下一步研究提供方向。第3章為投資自由化影響對外直接投資規(guī)模的理論分析,分析了外向投資政策和內(nèi)向投資政策自由化產(chǎn)生及興起的原因,基于五種投資自由化效應(yīng)理論,構(gòu)建出投資自由化影響母國對外直接投資規(guī)模的機制,為第4章和第5章的實證分析提供理論基礎(chǔ)和假設(shè)。第4章和第5章為實證研究部分,其中第4章為中國外向投資自由化影響其對外直接投資規(guī)模的實證研究,對外向投資自由化的內(nèi)涵進行了界定,介紹了中國外向投資國家政策和外向投資國際政策自由化的發(fā)展歷程,基于1980-2014年中國國家層面的時間序列數(shù)據(jù),使用誤差修正模型、脈沖響應(yīng)函數(shù)以及方差分解等方法實證檢驗了中國外向投資自由化與中國對外直接投資規(guī)模的關(guān)系,結(jié)果表明中國的外向投資國家政策自由化和外向投資國際政策自由化都顯著促進了中國對外直接投資規(guī)模的增長,且外向投資國際政策自由化的促進作用要大于外向投資國家政策自由化的促進作用。第5章為東道國內(nèi)向投資自由化影響中國對外直接投資規(guī)模的實證研究,對內(nèi)向投資自由化的內(nèi)涵進行了界定,概括了東道國內(nèi)向投資自由化現(xiàn)狀、特點,基于2003-2014年中國至173個東道國的國家面板數(shù)據(jù),使用普通最小二乘法和系統(tǒng)廣義矩法實證分析了東道國內(nèi)向投資自由化對中國對外直接投資規(guī)模的作用,并按照人力資本稟賦和物質(zhì)資本稟賦對東道國進行分類,進一步探討中國至不同類型東道國投資時內(nèi)向投資自由化的作用是否一致;結(jié)果顯示東道國內(nèi)向投資國家政策自由化并沒有促進中國對外直接投資規(guī)模增長,內(nèi)向投資國際政策自由化的促進作用卻很顯著,發(fā)達東道國與發(fā)展中東道國的內(nèi)向投資自由化對中國對外直接投資規(guī)模的影響大體一致,只是發(fā)達東道國與更多其他國家簽署國際投資協(xié)議會縮減中國至該類東道國的對外直接投資規(guī)模,而發(fā)展中東道國對外簽署更多國際投資協(xié)議卻擴大了中國至該類國家的對外直接投資規(guī)模。第6章對以上章節(jié)內(nèi)容進行總結(jié)分析,基于結(jié)論提出促進中國對外直接投資規(guī)模增長的外向投資政策改革建議,分別從外向投資國家政策和外向投資國際政策方面提出建議,前者包括深化改革外向投資管理體制和外匯管理體制、完善財稅及金融政策、督促地方政府落實國家政策、促進投資政策與貿(mào)易及外交政策的融合,后者包括繼續(xù)積極參與國際投資協(xié)議的簽署并適時修訂原有投資協(xié)議的內(nèi)容、與不同東道國簽署側(cè)重點不同的投資協(xié)議、簽署多邊或區(qū)域投資協(xié)議、盡快實施已經(jīng)簽署的投資協(xié)議。本文的創(chuàng)新之一是研究視角的創(chuàng)新,以中國為研究對象,研究投資自由化對發(fā)展中國家對外直接投資規(guī)模的影響;創(chuàng)新之二是多層面、多視角的研究,將投資自由化按照實施層面和實施主體進行劃分,分別研究了外向投資國家政策、外向投資國際政策、內(nèi)向投資國家政策、內(nèi)向投資國際政策這四類政策自由化對直接投資規(guī)模的影響;創(chuàng)新之三是實證分析更細致,依據(jù)投資協(xié)議條款內(nèi)容對國際投資協(xié)議進行分類量化,更精確地衡量國際投資協(xié)議所體現(xiàn)的投資自由化程度。研究不足主要存在以下兩點:1.本文基于五種投資自由化效應(yīng)理論構(gòu)建了投資自由化影響母國對外直接投資規(guī)模的機制,然而投資自由化效應(yīng)理論幾乎都假定投資母國為發(fā)達國家,這個假設(shè)與中國的現(xiàn)實情況不符;2.在做實證分析時,由于國家政策內(nèi)容繁雜且不統(tǒng)一,沒有依據(jù)投資政策內(nèi)容設(shè)計評分指標(biāo)來衡量國家政策的投資自由化程度,轉(zhuǎn)而使用其他指標(biāo)來作為國家政策投資自由化的代理指標(biāo),對國家政策自由化程度的衡量或許存在偏差。
[Abstract]:Since the implementation of the "go global" strategy, China has carried out a major reform to the foreign investment policy. At the same time, many countries have adjusted their internal investment policies. In general, China's foreign investment policy is developing towards liberalization, and most of the countries' internal investment policies tend to be liberalized. The scale of the foreign direct investment of a country is influenced by the foreign investment policy and the domestic investment policy related to the host country, and the foreign investment policy of the home country can be divided into the policy of export-oriented investment and the international policy of export-oriented investment, and the domestic investment policy of the host country can also be divided into the internal policy of internal investment and the international policy of introverted investment. The national policy refers to the policy related to direct investment by a country at home. The international policy refers to the policy related to direct investment by one country through the signing of the international investment agreement with other countries. The scale of China's foreign direct investment has continued to grow rapidly, and the volume of foreign direct investment flows in China is the largest in the world in the 2012-2014 year. Three, this paper, based on the scale of China's foreign direct investment, analyzes the impact of investment liberalization on the scale of China's foreign direct investment from the perspective of China and the host country. The full text is divided into 6 chapters. The first chapter is an introduction, which gives a brief introduction to the background and significance of the topic, the contents and objectives of the study, and the determination of the research ideas and methods, and the core of the research. The concept of heart is defined, and finally the innovation points and shortcomings of this paper are briefly summarized. The second chapter reviews literature review on the literature of investment liberalization and investment liberalization, summarizes the academic achievements made by scholars in this field, summarizes the research fields that have not attracted much attention, and provides the next step of research. The third chapter is the theoretical analysis of the impact of investment liberalization on the scale of foreign direct investment. The reasons for the emergence and rise of the liberalization of foreign investment policy and inward investment policy are analyzed. Based on the five theories of investment liberalization, the mechanism of investment liberalization to affect the size of the foreign direct investment of the home country is established, which is the empirical analysis of the fourth and the fifth chapters. The analysis provides the theoretical basis and hypothesis. The fourth chapter and the fifth chapter are the empirical research part. The fourth chapter is the empirical study on the impact of China's outward investment liberalization on the scale of foreign direct investment. The connotation of the liberalization of foreign investment is defined, and the development of the national policy of China's outward investment and the liberalization of the international policy of export-oriented investment is introduced. The course, based on the time series data at the national level of 1980-2014 years, uses error correction model, impulse response function and variance decomposition to verify the relationship between China's export-oriented investment liberalization and the scale of China's foreign direct investment. The result shows that China's foreign investment national policy liberalization and extroverted investment are international affairs. The liberalization of foreign direct investment in China has greatly promoted the growth of China's foreign direct investment, and the promotion role of the liberalization of international policy for outward investment is greater than the promotion of the liberalization of foreign investment countries. The fifth chapter is the empirical study on the impact of investment liberalization in China on investment liberalization in the host country, and the liberalization of inward investment. The connotation is defined and the current status and characteristics of investment liberalization in the host country are summarized. Based on the national panel data of 2003-2014 years from China to 173 host countries, this paper uses the general least square method and the system generalized moment method to empirically analyze the role of the investment liberalization in the host country to the scale of China's foreign direct investment, and according to the human capital endowment. The endowment and material capital is classified to the host country to further explore whether the role of inward investment liberalization is consistent between China and the different types of host countries. The result shows that the liberalization of the domestic policy towards investment countries does not promote the growth of China's foreign direct investment and the promotion of the liberalization of the internal investment international policy. It is very significant that the influence of the developed host countries and the developing countries' introverted investment liberalization on the scale of China's foreign direct investment is generally consistent, but the signing of international investment agreements with more developed countries and more other countries will reduce the scale of foreign direct investment from China to the host countries, while developing the Middle East countries to sign more foreign countries. The international investment agreement has expanded the scale of the foreign direct investment of China to such countries. The sixth chapter summarizes and analyzes the contents of the above chapters. Based on the conclusion, it puts forward the suggestions for the reform of foreign investment policy to promote the growth of China's foreign direct investment, and puts forward suggestions from the policy of foreign investment and the international policy of outward investment respectively. The former includes deepening the reform of foreign investment management system and foreign exchange management system, perfecting fiscal and financial policies, supervising local governments to implement national policies, promoting the integration of investment policies with trade and foreign policy. The latter includes the continued active participation in the signing of international investment agreements and the timely revision of the content of the original investment agreements with the different East. Dao States sign different investment agreements, sign multilateral or regional investment agreements, and implement the investment agreements that have been signed as soon as possible. One of the innovations of this article is the innovation of the research perspective, and the study of China as the object of research, to study the impact of investment liberalization on the scale of foreign direct investment in developing countries; the two of innovation is multifaceted and multi perspective. In the study, we divide the investment liberalization according to the implementation level and the implementation subject, and respectively study the effect of the four types of policy liberalization on FDI, the international policy of export-oriented investment, the inward investment national policy, the inward investment international policy and the impact on the scale of direct investment. The new three is the more detailed empirical analysis, according to the investment agreement article. The article classifies and quantifies the international investment agreements, and more accurately measures the degree of investment liberalization embodied in the international investment agreement. There are two main points in the study: 1. this paper constructs the mechanism of investment liberalization to affect the size of the foreign direct investment of the mother country based on the theory of five kinds of investment liberalization effect, however, the effect of investment liberalization is effective. It is almost assumed that the investment country is a developed country, which is not consistent with the reality of China. 2. in the case of empirical analysis, because the content of the national policy is complex and ununified, it does not measure the degree of investment liberalization of national policy according to the design score index of the investment policy, and then uses other indicators to act as a state administration. There may be some discrepancy in the measurement of the degree of liberalization of state policies by proxy indicators of investment liberalization.

【學(xué)位授予單位】：對外經(jīng)濟貿(mào)易大學(xué)
【學(xué)位級別】：博士
【學(xué)位授予年份】：2016
【分類號】：F832.6

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