亞洲地區國際直接投資之決定因素

The Determinants of Foreign Direct Investment in Asia

徐守德(David Shyu) ； 王毓敏(Yu-Min Wang) ； 李信達(Sin-Dar Lee)

《Asia Pacific Management Review》 4卷4期 (1999/12) Pp. 369-383

https://doi.org/10.6126/APMR.1999.4.4.03

摘要

1995年的國際直接投資總額中，開發中國家佔有32%的高比例；而在開發中國家之列，亞洲地區佔開發中國家的65%，扮演著相當重要的角色。本文以三種數理方法分別進行國際直接投資的實證工作，分別為普通最小平方法（OLS）、相似不相關分析法（SUR）、及時問序列與橫斷面古典迴歸分析法（CP）；企圖尋找出影響亞太地區國際直接投資的因素，實證的結果指出，市場規模效益、工業生產能力、經濟開放程度、政府關稅優惠措施、及能源變數等都是亞洲地區吸引國際直接投資的幾項主要原因。此外，利用SUR的估計效果並不比用OLS來的好，解釋能力的效率性普遍下降。

關鍵字

國際直接投資 ； 相似不相關分析法 ； 決定因素

並列摘要

Developing countries counted for 32% of international foreign direct investment in 1995, while Asia countries counted for 65% of total international foreign direct investment of developing countries in 1995. This paper attempts to adopt ordinary least square estimation, seemingly unrelated regression estimation and classical pooling method to find those factors affecting foreign direct investment in Asia area. The empirical results show that market scale, industrial production ability, degree of economic openness, governor's custom beneficial policy and energy variable are the major factors affecting the foreign direct investment in Asia area. In addition, the performance of SUR is inferior to OLS.

並列關鍵字

Foreign Direct Investment ； Seemingly Unrelated Regression Estimation ； Determinants

參考文獻

Aizenman, J.(1992).Exchange Rate Flexibility, Volatility, and Domestic and Foreign Direct Investment.International Monetary Fund Staff Papers.39(4)

Ajami, R. A., Ricks, D. A.(1981).Motives of Non-American Firms Investing in the United States.Journal of International Business Studies.12(3)

Belay, S.(1996).The Impact of Intellectual Property Rights on Foreign Direct Investment.The Columbia Journal of World Business.31(1)

Bennet, P. D., Green, R. T.(1972).Political Instability as a Determinant of Direct Foreign Investment in Marketing.Journal of Marketing Research.9

Buckley, P., Casson, M.(1976).The Future of the Multinational Enterprise.London:MacMillan and Co..