FDI與经济增长基于中国金融发展的实证检验.docVIP

FDI与经济增长：——基于中国金融发展的实证检验 白积洋 (中共湛江市委党校，广东湛江524032) [摘 要]外商直接投资（FDI）在促进东道国经济增长方面扮演着重要的角色，不仅可以增加东道国的资本存量、提高投资质量以及缓解东道国的就业压力，而且通过技术溢出效应使东道国的技术水平、组织效率不断提高，从而促进东道国经济增长。东道国金融体系发展的健全与完善，不仅可以直接促进技术进步，而且可以通过东道国自身吸收能力的渠道来放大FDI的技术溢出效应进而显著地促进经济增长。作为发展中国家的中国，相对欠发达的金融市场没有起到促进FDI对经济增长的积极作用。因此，要充分放大FDI溢出效应，积极推动FDI促进中国经济增长，我国必须在重视基础设施、法律制度、政策环境和人力资本建设的同时，进一步推进金融深化进程，改善金融体系效率。 [关键词] FDI；金融发展；经济增长；溢出效应 中图分类号：F832.5　　文献标识码：A　 FDI and Economic Growth: on Chinas Financial Development Test Baijiyang (The Party school of Zhanjiang CPC, Zhanjiang 524032, Guangdong) Abstract：FDI plays an important role in promoting economic growth of the host country. It can not only increase the host countrys capital stock and improve the quality of investment and alleviate the employment pressure of the host country, but also continuously improve organizational efficiency and technical level of the host country to promote economic growth through technology spill-over effects. The sound and perfect financial system of the host country can not only directly promote technological progress, but also enlarge FDI technology spillover effects host through their own channels to the absorptive capacity to promote significantly economic growth. As a developing country, China is a relatively less developed financial market which does not play an active role in promoting economic promote by FDI. Therefore, in order to enlarge fully the FDI spillover effects to actively promote actively Chinas economic growth, China must further promote the financial deepened process and improve the efficiency of the financial system while attaching importance to constructing the infrastructure, legal system, policy environment and human capital. Key words：FDI; Financial development; Economic growth; Spillovers effect 一、引言 20世纪80年代以来，外商直接投资(FDI)成为国际资本流动中最主要的内容，到本世纪初，全球FDI数额更是创纪录的达到了13930亿美元。这说明，越来越多的国家把吸引外商直接投资作为重要的对外政策，其主要理由是，外商直接投资在促进东道国经济增长方面扮演着重要的角色。FDI不仅可以增加东道国的资本存量、提高投资质量以及缓解东道国的就业压力，而且通过技术的溢出效应使东道国的技术水平、组织效率不断提高，从而提高国民经济的全要素生产