【作者】 王利华；

【导师】 谷人旭；

【作者基本信息】 华东师范大学 ， 人文地理学， 2010， 博士

【摘要】 随着全球化进程的日益加快,以及中国改革开放的不断推进和产业结构的不断优化,中国跨国公司竞争力不断增强。而世界经济的一体化发展、现代科技的进步,极大地降低了市场交易成本,为中国跨国公司的对外直接投资(FDI)提供了良好的外部环境。国内外各种因素共同刺激了中国FDI的快速增长,然而,由于主客观方面的原因,中国跨国公司的发展相对落后,中国FDI的区位分布过于集中于一些国家或地区,总体投资效率较低,甚至造成了资本的严重损失。因此,如何优化中国跨国公司FDI区位分布、提高FDI投资效率就成为当务之急。本研究从中国跨国公司FDI的区位分布特点出发,深入分析了中国跨国公司FDI区位选择的主要问题,基于国内外环境、投资主体、产业结构、国内外区域优势等主要影响因素,提出了优化中国跨国公司FDI的区位分布和提高投资效率的对策和建议。首先,本研究从FDI区位分布角度对中国跨国公司的投资行为进行实证分析。从总体来看,中国跨国公司FDI的一个重要特点是虚假投资过多,真实投资较少。FDI的产业结构也偏离中国真正的比较优势,对商务服务业和资源产业投资过多,对具有比较优势的制造业投资过少。同时,FDI区位分布也过于集中于极少数国家或地区,对发达地区的投资比例过高,对周边国家和其他发展中国家的投资比例过低,偏离发展中国家的常规。但从发展的角度看,随着国内市场化、私营化的不断深入,中国FDI区位分布将逐步与其他发展中国家趋近。从区域角度看,国内来源地区域经济的变迁直接影响到中国跨国公司FDI的投资主体、投资结构、区位选择以及投资效率,国内区域经济的变化对国外投资区位的选择有直接影响。同时,国外投资地的政治、社会经济发展和变化都对FDI区位选择有重要影响。随着区域经济体制转型、产业结构调整以及发展模式转变的持续深入,中国跨国公司FDI的区位分布将逐步发生改变。其次,本研究强调了制度依赖对中国跨国公司投资区位选择的影响。中国跨国公司FDI中存在着各种扭曲现象,其主要原因在于国内体制的不完善,贫富差距过大造成国内社会风险的剧增,法制不完善导致私人财产缺乏保障,其导致大量资本流失;歧视性的投资、市场准入、融资政策,过高的税费负担,其导致大量资本的制度逃逸,最终也形成巨额的虚假投资;而政府的过度干预,不公平的竞争环境、国有企业产权问题的长期悬置以及垄断的普遍存在都导致劣胜优汰,使企业缺乏竞争力,产业结构不合理,助长虚假投资。由于国有企业主导的中国FDI特殊的产权结构、激励机制和软约束机制,其导致投资决策的盲目性、投资行业的扭曲和投资区位的不合理,降低投资效率。因此,改善中国跨国公司FDI区位布局,制度优化是其关键。再次,在对邓宁理论进行拓展的基础上,归纳和总结了FDI区位选择规律。随着信息技术的发展、国际分工的进一步细化以及FDI国际环境的复杂化,宏观的制度与文化因素已成为FDI的重要影响因素。所有权优势、内部化优势和区位优势成为企业FDI的条件,比较优势和技术开发的比较成本优势也成为发展中国家FDI蓬勃发展的重要因素。这些投资动因、投资目标与区位优势相互结合,形成了各种FDI区位选择模式。对于发展中国家而言,其FDI区位选择主要遵循五个原则:就近原则、比较优势原则、竞合原则、垄断竞争原则和交易成本原则,其中就近原则和比较优势原则是其主要原则。由于中国特殊的投资主体结构和扭曲的投资激励机制,导致中国跨国公司FDI区位选择主要遵循垄断竞争原则和交易成本原则,偏离一般发展中国家的常规,但随着中国市场化的进一步推进和中国跨国公司实力的进一步提升,中国跨国公司FDI区位选择原则也将逐步合理化。最后,本研究对优化中国跨国公司FDI区位分布提出了建议。指出只有从根本上进一步完善市场经济体制,维护公平竞争的市场环境,促进区域产业结构调整和产业集群的升级,转变传统经济发展模式,在大力发展私营经济、促进自由竞争的基础上,不断提高中国跨国公司的所有权优势,才能形成中国跨国公司FDI的竞争优势和比较优势,并且最终优化中国跨国公司FDI的主体结构和产业结构,使中国跨国公司FDI的区位分布更为合理、投资效率不断提高。更多还原

【Abstract】 With the speeding up of globalization,the enhancement of reform and opening up, the optimization of the industrial structure,and the improvement of the competitiveness of enterprises in China,the foreign direct investment(FDI) of Chinese multi-national corporations(C-MNCs) is constantly increasing.Domestic markets,resources and techniques have become bottlenecks,restricting economic development.Going abroad can effectively overcome these problems and further enhance the international competitiveness of Chinese enterprises.The development of economic integration and modern technology has greatly reduced the transaction cost,which provides a good external environment for FDI of C-MNCs.All kinds of factors have stimulated the rapid growth of FDI in China,greatly alleviated the pressure on Chinese resources, market and technology,and promoted economic development.However,the present development of C-MNCs has lagged behind.Chinese economy and the efficiency of Chinese FDI is low,which has caused a serious loss of capital and a departure from the initial goal.Therefore,improving the efficiency of C-MNCs FDI is essential now. Based on the characteristics of FDI location distribution of C-MNCs,this study will analyze the main problems and factors influencing FDI of C-MNCs,and some suggestions about how to optimize the FDI location distribution of C-MNCs and the investment efficiency will be put forward.Firstly,the paper will give a positive analysis about C-MNCs FDI from the view of location distribution.In general,the percentage of false investments is great.The industrial structure of FDI has deviated from the comparative advantages,i.e. investments on business services and resources are too much while manufacturing investments has covered too little.The location of investment is also unreasonable and different from the other developing countries,i.e.high investment ratio in developed regions but low in neighboring countries and other developing countries.However, from the view of development,the location distribution of Chinese FDI will be gradually similar as other developing countries with the improvement of market and privatization.From the perspective of sub-regional,the changes in the regional economy directly influence the subject,structure,location selection and efficiency of the C-MNCs FDI.With the transformation of domestic regional economic system,the adjustment of industrial structure,the change of developmental pattern,the location distribution of C-MNCs FDI will also change. Secondly,the impacts of system dependence on the location selection of C-MNCs FDI will be emphasized.The abnormal phenomenon of China’s FDI is mainly due to the various distortions in the domestic system,i.e.the large gap between rich and poor increased domestic social risks,and legal imperfections can not protect private property and lead to large capital loss.Discriminatory investment,market access,financing policies and high tax burdens have led to large amounts of capital to escape,and eventually result in a great number of false investments.The government’s excessive interference,unfair competitive environment,the long-term overhang of property rights of state-owned enterprises,the prevalence of monopolies have led to survival of the inferior ones;as a result,enterprises lacked competitiveness and industrial structure was unreasonable,and the false investment have been further stimulated.As state-owned enterprises orient Chinese FDI,the special ownership structure,incentives and soft restraint mechanisms lead to the blind decision-making,the distortion of investment industry,the irrational investment location,which ultimately damages the efficiency of investment.On the contrary,when private enterprise orients FDI,such as in Zhejiang,FDI often obeys the principle of comparative advantage,the industry and location distribution are more reasonable and investment is efficient.Therefore,system optimization is the key problem to improve the location distribution of C-MNCs.Thirdly,the law about investment location selection will be summarized based on the extension of Dunning theory.With the development of information technology, international division of work and complication of international environment for MNCs FDI,macro-institutional and cultural factors have become important reasons for FDI. Simple ownership advantages,internalization advantages or local advantages,along with comparative advantage and technological development of the comparative cost advantage,are likely to be sufficient conditions for FDI enterprises.The combinations of investment motivations,investment objectives with the local advantages formed various patterns of investment location selection.For developing countries,the FDI location selection was guided by five principles:proximity principle,the principle of comparative advantage,competing principles,monopolistic competition principle,and transaction cost principle,in which proximity principle and comparative advantage principle are the key principles.Due to the special investor’s composition,distorted investment incentives mechanism,the main principles of C-MNCs FDI are monopolistic competition principle and transaction costs principle,which deviate from the normal principle of FDI in developing countries.However,with the improvement of the Chinese market,the FDI location selection of C-MNCs will be gradually reasonable.Finally,suggestions were put forward to optimize the location distribution of C-MNCs FDI.To develop the competitive advantage and the comparative advantage of C-MNCs FDI,and further optimize the structure of investors and industry,we should take measures as following:Improving the market economic system,maintaining a fair competitive market environment,promoting sub-regional industrial structure adjustment and upgrading industrial clusters,changing the traditional economic development patterns and continually improving the ownership advantages of MNCs, which would make the FDI location distribution of C-MNCs more reasonable and efficient.更多还原