外文翻译--中国国内的企业受益于外国直接投资吗？.docVIP

本科毕业论文外文翻译 外文题目： Do Domestic Chinese Firms Benefit from Foreign Direct Investment? 出 处： University of California , Berkeley 作 者： Chang-Tai Hsieh 原 文： Summary This paper uses a unique plant-level panel dataset from the Chinese manufacturing sector to measure the effects of foreign firms on the productivity of domestic firms. We find that foreign firms are more productive than domestic firms in the same industry. We find little evidence that foreign firms had any effect, either positive or negative, on the average productivity of domestic Chinese manufacturing plants. However, we also find clear evidence that this average effect masks important heterogeneity: large domestic firms appear to benefit significantly from the presence of foreign firms in the sector, while the productivity of small domestic firms is lowered by the presence of foreign firms. 1. Introduction In recent decades, direct foreign investment (DFI) has exploded in developing countries. By some accounts, DFI accounts for more than half of all external financing in developing countries. In fact, many policy makers believe that attracting DFI is a crucial ingredient for accelerating the country’s economic development. Foreign firms, the argument goes, would introduce new technologies and help upgrade technological capabilities of domestic firms. This could occur through a variety of channels. For example, workers employed by foreign firms could learn the new technologies and diffuse these technologies by starting their own firms or by moving to other domestic firms. It might be the case that foreign firms help upgrade the technologies of domestic firms by stimulating upstream and downstream linkages. Due to these reasons, many countries have introduced a battery of tax incentives, ranging from tax ho