服务业双向FDI的生产率效应研究——基于人力资本的面板门槛模型估计
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财经研究 2013 年 第 39 卷第 11 期, 页码：91 - 102
摘要
参考文献
摘要
文章采用中国服务业13个分行业2004-2011年的面板数据,考察了双向FDI的生产率(TFP)效应。结果表明,内向FDI、国内研发、资本劳动比以及不变价工资对中国服务业生产率具有显著的促进作用,而外向FDI与行业结构未表现出显著的正向溢出效应。此外,文章还发现服务业利用外资与对外投资之间存在微弱的相互促进关系,且内向FDI与外向FDI的生产率效应存在明显的行业差异;与针对中国总体FDI的研究文献相比,文章并未发现人力资本在平均意义上对服务业生产率产生提升作用,且对双向FDI生产率效应的影响存在显著的门槛特征,可能原因在于中国服务业仍以传统的低端服务业为主,而大批高学历劳动者的进入导致了人力资本的低效率。
[1]李梅,柳士昌.对外直接投资逆向技术溢出的地区差异和门槛效应——基于中国省际面板数据的门槛回归分析[J].管理世界,2012,(1):21-32.
[2]王恕立,胡宗彪.中国服务业分行业生产率变迁及异质性考察[J].经济研究,2012,(4):15-27.
[3]王英,刘思峰.国际技术外溢渠道的实证研究[J].数量经济技术经济研究,2008,(4):153-161.
[4]赵伟,古广东,何元庆.外向FDI与中国技术进步:机理分析与尝试性实证[J].管理世界,2006,(7):53-60.
[5]Arnold J M,Javorcik B,Lipscomb M,et al.Services reform and manufacturing performance:Evidence from India[R].World Bank Policy Research Working Paper,No.5948,2012.
[6]Baum C F,Schaffer M E,Stillman S.Instrumental variables and GMM:Estimation and testing[J].The Stata Journal,2003,3(1):1-31.
[7]Bowlus A J,Robinson C.Human capital prices,productivity and growth[J].American Economic Review,2012,102(7):3483-3515.
[8]Borensztein E,De Gregorio J,Lee J W.How does foreign direct investment affect economic growth?[J].Journal of International Economics,1998,45(1):115-135.
[9]Coe D T,Helpman E.International R&D spillovers[J].European Economic Review,1995,39(5):859-887.
[10]Davidson R,MacKinnon J.Estimation and inference in econometrics[M].New York:Oxford University Press,1993.
[11]De La Potterie B V P,Lichtenberg F.Does foreign direct investment transfer technology across borders?[J].Review of Economics and Statistics,2001,83(3):490-497.
[12]Doytch N,Uctum M.Does the worldwide shift of FDI from manufacturing to services accelerate economic growth:A GMM estimation study[J].Journal of International Money and Finance,2011,30(3):410-427.
[13]Driscoll J C,Kraay A C.Consistent covariance matrix estimation with spatially dependent panel data[J].Review of Economics and Statistics,1998,80(4):549-560.
[14]Fernandes A M,Paunov C.Foreign direct investment in services and manufacturing productivity:Evidence for Chile[J].Journal of Development Economics,2012,97(2):305-321.
[15]Hansen B E.Threshold effects in non-dynamic panels:Estimation,testing,and inference[J].Journal of Econometrics,1999,93(2):345-368.
[16]Herzer D.How does foreign direct investment really affect developing countries’growth?[J].Review of International Economics,2012,20(2):396-414.
[17]Mirodout S.The linkages between open services markets and technology transfer[R].OECD Trade Policy Working Paper,No.29,2006.
[18]Stare M.Advancing the development of producer services in Slovenia with foreign direct investment[J].The Service Industries Journal,2001,21(1):19-34.
[19]Vandenbussche J,Aghion P,Meghir C.Growth,distance to frontier and composition of human capital[J].Journal of Economic Growth,2006,11(2):97-127.
①LP(2001)方法也采用了流量数据来表示对外投资活动。
②在相减过程中发现“水利、环境和公共设施管理业”、“居民服务和其他服务业”和“文化、体育和娱乐业”的全国R&D经费小于研发机构经费,这不符合常理,所以这三项用全国R&D经费表示。
③在Borensztein等(1998)的经典文献中,部分模型也出现了人力资本变量不显著甚至显著为负的结果。
④限于篇幅,本文经过了大量压缩,感兴趣的读者可向作者(hzb1969@163.com)索要详细的版本。
⑤李梅和柳士昌(2012)对中国总体外向FDI的测算结果为9.2355年,与本文结果较为接近。
[2]王恕立,胡宗彪.中国服务业分行业生产率变迁及异质性考察[J].经济研究,2012,(4):15-27.
[3]王英,刘思峰.国际技术外溢渠道的实证研究[J].数量经济技术经济研究,2008,(4):153-161.
[4]赵伟,古广东,何元庆.外向FDI与中国技术进步:机理分析与尝试性实证[J].管理世界,2006,(7):53-60.
[5]Arnold J M,Javorcik B,Lipscomb M,et al.Services reform and manufacturing performance:Evidence from India[R].World Bank Policy Research Working Paper,No.5948,2012.
[6]Baum C F,Schaffer M E,Stillman S.Instrumental variables and GMM:Estimation and testing[J].The Stata Journal,2003,3(1):1-31.
[7]Bowlus A J,Robinson C.Human capital prices,productivity and growth[J].American Economic Review,2012,102(7):3483-3515.
[8]Borensztein E,De Gregorio J,Lee J W.How does foreign direct investment affect economic growth?[J].Journal of International Economics,1998,45(1):115-135.
[9]Coe D T,Helpman E.International R&D spillovers[J].European Economic Review,1995,39(5):859-887.
[10]Davidson R,MacKinnon J.Estimation and inference in econometrics[M].New York:Oxford University Press,1993.
[11]De La Potterie B V P,Lichtenberg F.Does foreign direct investment transfer technology across borders?[J].Review of Economics and Statistics,2001,83(3):490-497.
[12]Doytch N,Uctum M.Does the worldwide shift of FDI from manufacturing to services accelerate economic growth:A GMM estimation study[J].Journal of International Money and Finance,2011,30(3):410-427.
[13]Driscoll J C,Kraay A C.Consistent covariance matrix estimation with spatially dependent panel data[J].Review of Economics and Statistics,1998,80(4):549-560.
[14]Fernandes A M,Paunov C.Foreign direct investment in services and manufacturing productivity:Evidence for Chile[J].Journal of Development Economics,2012,97(2):305-321.
[15]Hansen B E.Threshold effects in non-dynamic panels:Estimation,testing,and inference[J].Journal of Econometrics,1999,93(2):345-368.
[16]Herzer D.How does foreign direct investment really affect developing countries’growth?[J].Review of International Economics,2012,20(2):396-414.
[17]Mirodout S.The linkages between open services markets and technology transfer[R].OECD Trade Policy Working Paper,No.29,2006.
[18]Stare M.Advancing the development of producer services in Slovenia with foreign direct investment[J].The Service Industries Journal,2001,21(1):19-34.
[19]Vandenbussche J,Aghion P,Meghir C.Growth,distance to frontier and composition of human capital[J].Journal of Economic Growth,2006,11(2):97-127.
①LP(2001)方法也采用了流量数据来表示对外投资活动。
②在相减过程中发现“水利、环境和公共设施管理业”、“居民服务和其他服务业”和“文化、体育和娱乐业”的全国R&D经费小于研发机构经费,这不符合常理,所以这三项用全国R&D经费表示。
③在Borensztein等(1998)的经典文献中,部分模型也出现了人力资本变量不显著甚至显著为负的结果。
④限于篇幅,本文经过了大量压缩,感兴趣的读者可向作者(hzb1969@163.com)索要详细的版本。
⑤李梅和柳士昌(2012)对中国总体外向FDI的测算结果为9.2355年,与本文结果较为接近。
引用本文
王恕立, 胡宗彪. 服务业双向FDI的生产率效应研究——基于人力资本的面板门槛模型估计[J]. 财经研究, 2013, 39(11): 91–102.
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