外人直接投資對生產力的外溢效果：中國製造業實證

Productivity spillover from FDI through vertical and horizontal linkages：Evidence from Chinese manufacturing industries

曹葳涵(Wei-Han Tsao)

指導教授 ： 林亦珍

淡江大學/商學院/經濟學系碩士班/碩士(2011年)

https://doi.org/10.6846/TKU.2011.00098

摘要

本研究使用中國大陸1998 年到2006 年的製造業實證數據，分析外人直接投資對棉及化纖製品製造業、方便麵及其他方便食品製造業、塑料零件製造業、玻璃纖維及製品製造業、汽車零部件及配件製造業、電力電子元器件製造業、電子元件及組件製造業、通信傳輸設備製造等八個產業的對數營收、對數營收變動率、對數附加價值生產力及對數附加價值生產力變動率的影響。
實證結果顯示，為了提升廠商的對數營收、對數營收變動率、對數附加價值生產力及對數附加價值生產力變動率，棉及化纖製品製造業應增加出口量並減少產業上游外資。為了提升廠商的對數營收變動率、對數附加價值生產力及對數附加價值生產力變動率，方便麵及其他方便食品製造業應增加產業下游其他外資比並減少出口比例。為了提升廠商的對數營收、對數營收變動率、對數附加價值生產力及對數附加價值生產力變動率，塑料零件製造業應增加產業下游外資並減少出口比例。為了提升廠商的對數營收、對數附加價值生產力及對數附加價值生產力變動率玻璃纖維及製品製造業應增加產業上游外資、減少個別廠商港澳台資比及促進產業競爭。為了提升廠商的對數營收、對數營收變動率、對數附加價值生產力汽車零部件及配件製造業應增加產業下游其他外資。為了提升廠商的對數營收、對數附加價值生產力，電力電子元器件製造業應增加產業上游港澳台資。為了提升廠商的對數營收、對數營收變動率、對數附加價值生產力，電子元件及組件製造業應增加外地外資比。為了提升廠商的對數營收、對數營收變動率，通信傳輸設備製造業應減少上游其他外資的比重。
本研究顯示，不同的產業廠商的生產力對於外資的投入會有不同的反應，從廠商的角度而言，決定是否應該提高股權結構中外資的比例，應該根據自己所處的產業，評估應該引入何種國籍的外資。此外，上下游產業的外資也會改變廠商的生產力，廠商必須積極把握來自上下游產業外資的外溢效果並及早因應上下游產業外資的負面影響。就政府的角度而言，在考慮是否應該限制或鼓勵外資的投入以及是否應該鼓勵產業的競爭時，應留意產業間的異質性，並非所有產業的生產力都能因外資的出現而增加。

關鍵字

外人直接投資 ； 外溢效果 ； 生產力 ； Levinsohn-Petrin 模型

並列摘要

This research uses plant-level data on Chinese manufacturing plants over the period 1998 to 2006 to analyze the relationship between foreign direct investment
(FDI) and plant-level productivity. Specifically, we examine the effect of FDI on the level of sales, the growth rate of sales, the level of productivity and the growth rate of productivity. The eight narrowly defined industries studied are: cotton and chemical fiber products, instant noodles and other convenience food manufacturing, plastic parts, glass fiber products, automobile parts and accessories, electric components, electronic components, and communication equipment.
Empirical results show that, in order to enhance the company's level of sales,sales growth rate, the level of productivity and the productivity growth rate, cotton and chemical fiber products manufacturing should increase exports and reduce upstream foreign capital. In order to enhance the company's sales growth rate, the level of productivity and productivity growth rate, firms in the instant noodles and other convenience food manufacturing industry should increase downstream foreign capitals from non-ethnic Chinese and reduced export ‘s share in total industry output.
In order to enhance the company's level of sales, sales growth rate, the level of productivity and the productivity growth rate, firms in the plastic parts manufacturing industry should increase downstream foreign capital and reduce the share of export in total output. In order to enhance logarithm sales, the logarithm value-added productivity and the logarithm value-added productivity mobility rate, firms in the glass fiber and the product manufacturing industry should increase upstream foreign capital, reduced the share of equity from Hong Kong, Macao and Taiwan in the firm and promote competition in the industry.
In order to enhance the level of sales, sales growth rate and the level of productivity, the automobile parts and accessories industry should reduce foreign capitals from non-ethnic Chinese. In order to enhance the company's level of sales and the level of productivity, the electric components manufacturing should encourage investment from Hong Kong, Macao and Taiwan in upstream industries.
In order to enhance the level of sales, sales growth rate and the level of productivity, the electronic components industry should increase the share of foreign capital outside the region but within the same industry. In order to enhance the levelof sales and sales growth rate, firms in the communication equipment industry should limit the share of non-ethnic Chinese equity in the upstream.
Overall, this study shows that the spillover effect of FDI differs across industries and the sign and magnitude of the spillover effect varies widely depending on the
origin of the foreign capital and the location of the foreign capital. Both firms and the government should pay attention to the heterogeneity in the spillover effect of FDI since FDI can be harmful to productivity in some industries.

並列關鍵字

FDI ； spillover effects ； productivity ； Levinsohn-Petrin model

參考文獻

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