跨國公司異質性與外人直接投資外溢效果：中國製造業廠商實證研究

Multinational Firm Heterogeneity and FDI Spillover Effect:Evidence from Chinese Manufacturing Firms

陳龍杰(Long-Jie Chen)

指導教授 ： 劉文獻

國立中正大學/管理學院/經濟系國際經濟研究所/碩士(2015年)

摘要

本文使用2004年至2006年中國17個製造業，139,149家廠商的資料，研究廠商生產力異質性對FDI外溢效果的影響。首先以跨國公司生產力異質性為研究基礎，分別估計了四種不同生產力等級的跨國公司對外溢效果的影響，接著將中國廠商同跨國公司生產力差距的大小作為FDI外溢效果影響因素進行分析，最後再考慮中國廠商生產力異質性對吸收FDI外溢效果的影響。本文實證結果顯示，生產力越低的跨國公司雖然可以帶給中國低生產力廠商有利的水平外溢效果，但是其產生的負向向後外溢效果最為嚴重；而生產力高於中國廠商的跨國公司雖然會產生負向水平外溢效果，但隨著生產力差距擴大，負向水平外溢效果反而會縮小，同時在向後外溢方面呈現一個正向的外溢效果，即使這個效果會隨著生產力擴大而遞減。

關鍵字

吸收能力 ； 公司異質性 ； FDI外溢效果 ； 總要素生產力

並列摘要

This study aims to empirically examine how firm heterogeneity may contribute to the inter-industry (horizontal) and intra-industry (backward) FDI spillover effects. By using the panel data of 139,149 Chinese manufacturing firms in 17 industries during 2004－2006, we estimate this impacts from three aspects. Firstly, we only consider the heterogeneity of multinational corporations (MNCs) and rank these MNCs into four subgroups by their TFP values. Secondly, we use the difference of TFP values between domestic firms and MNCs to proxy the possible technology gap. Finally, both domestic and foreign firm heterogeneities are considered simultaneously. The empirical results show that: (1) although the less productive MNCs may contribute a beneficial horizontal spillover effect to the less productive domestic firms, they also give the most severe negative backward spillover effect; (2) the more productive MNCs seem to provide a negative horizontal spillover effect, but the negative effect diminishes as the technology gap widens; (3) the more productive MNCs also provide a positive backward spillover effect which diminishes as the TFP values of MNCs increase.

並列關鍵字

absorptive capability ； firm heterogeneity ； FDI spillovers ； total factor productivity

參考文獻

Aitken, B. J. and A. E. Harrison (1999), “Do Domestic Firms Benefit From Direct Foreign Investment? Evidence from Venezuela,” American Economic Review, 89, 605-618.

Blalock, G. and P. J. Gertler (2008), “Welfare Gains From Foreign Direct Investment through Technology Transfer to Local Suppliers,” Journal of International Economics, 74, 402-421.

Blomström, M. (1986), “Foreign Investment and Productive Efficiency: The Case of Mexico,” Journal of Industrial Economics, 35, 97-110.

Blomström, M. and A. Kokko (1998), “Multinational Corporations and Spillovers,” Journal of Economic Surveys, 12, 247-277.

Blomström, M. and H. Persson (1983), “Foreign Investment and Spillover Efficiency in an Underdeveloped Economy: Evidence from the Mexican Manufacturing Industry,” World Development, 11, 493-501.