利用出口加工区吸引外资及其效益——中国经验外文翻译.docVIP

外文翻译 原文 Do export processing zones attract FDI and its benefits—The experience from China Material Source: International Economics and Economic Policy Author: Edward M. Graham 1. Introduction The question posed by the title of this paper can be answered in fact quite simply. In the experience of China, export-processing zones (or, to use Chinese terminology, Special Economic Zones or SEZs) did succeed, during the decade of the 1980s, to bring into China a significant volume of foreign direct investment (FDI). With this investment did come certain bene?ts. However, both greater volumes of investment and greater bene?ts followed when the special privileges accorded to foreign investors in SEZs were nulli?ed by the Chinese government in 1991 via the opening all of China to foreign investment on essentially the same terms as were granted in the SEZs. This has led some observers to conclude that the SEZs were a failure in the sense that perhaps the bene?ts that almost unquestionably have been brought to China by foreign investment could have been accelerated had the 1991 liberalization occurred earlier and the period curtailed during which this investment was largely restricted to SEZs (and to SEZ-like zones; as we shall see, even during the 1980s, FDI was not limited to the formally-declared SEZs but extended to other areas to which SEZ-like privileges were extended to ?rms). Thus, the question posed by the title can be restated as follows, were the SEZs, and SEZ-like zones, a ‘‘building block’’ upon which the successful build-up of FDI during the 1990s and 2000s rested? Or, in the end, were the restrictions imposed on China outside the SEZs during the hey-day of the SEZs simply an obstacle that slowed China’s economic progress? These questions of course are in a category that can never be answered de?nitively; after all, we will never know the ‘‘counterfactual’’, i.e., if thing shad been done di?erently in China during the 1980s – speci?cally, if