How Effective Are Investment Promotion Agencies? Evidence from China,
How Effective Are Investment Promotion Agencies? Evidence from China,
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投资促进机构的效率如何？
DOI：
10.1111/jere.12089
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发表时间：
2016
影响因子：
1.2
通讯作者：
and Tomohiko Inui
中科院分区：
文献类型：
--
作者：
Ni;Bin;Yasuyuki Todo;and Tomohiko Inui
本文利用中国国家统计局的企业层面和城市层面的数据，以及中国投资促进机构（IPA）的独特信息，分别从外资企业的再投资和城市新增FDI流入两个角度，从集约边际和粗放边际两个角度，评估了IPA对外商直接投资（FDI）的影响。在控制了外国直接投资的潜在决定因素并校正了由于内生性而产生的偏差之后，我们发现，一般来说，IPA在两种情况下都不一定会增加外国直接投资。然而，人们发现，投资促进机构促进了大型外资企业的再投资。结果表明，向外国投资者传播有关商业环境的信息存在困难。
Using both firm-level and city-level data from the Chinese National Bureau of Statistics and unique information on investment promotion agencies (IPA) in China, the present paper evaluates whether IPA affect foreign direct investment (FDI) from the perspective of both intensive and extensive margins; that is, re-investment by incumbent foreign-owned firms and total new FDI inflows into the city, respectively. After controlling for potential determinants of FDI and correcting for biases due to endogeneity, we find that, in general, IPA do not necessarily increase FDI in either case. However, IPA are found to promote re-investment by large foreign-owned firms. The results imply difficulty in the dissemination of information about the business environment to foreign investors.