Does foreign direct investment crowd in or crowd out private domestic investment in China? The effect of entry mode

被引：28
|
作者：
Chen, George S. [1 ]
Yao, Yao [2 ]
Malizard, Julien [3 ]
机构：
[1] Univ New England, UNE Business Sch, Room 809,W40, Armidale, NSW 2351, Australia
[2] Univ New England, UNE Business Sch, Room G03,W39, Armidale, NSW 2351, Australia
[3] UMR 5113 GREThA, Pessac, France
来源：
ECONOMIC MODELLING | 2017年 / 61卷
关键词：
Foreign direct investment; Entry mode; ARDL bounds test; Domestic investment; China; ECONOMIC-GROWTH; TIME-SERIES; UNIT-ROOT; HONG-KONG; FDI; COINTEGRATION; IMPACT; ENERGY; GOVERNANCE; OWNERSHIP;
D O I：
10.1016/j.econmod.2016.11.005
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Using quarterly data spanning from 1994Q1 to 2014Q4, we find a neutral relationship between foreign direct investment (FDI) and domestic investment in China. However, when we consider the entry mode chosen by foreign investors, we find that whilst equity joint venture (EJV) crowds in domestic investment, wholly foreign funded enterprise (WFFE) crowds it out. Our results remain robust under alternative estimators and across different time periods. Based on these results, we argue that the Chinese government needs to actively promote the formation of EJV and uses it as the catalyst for industrial upgrading in the economy.
引用
收藏
页码：409 / 419
页数：11
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