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本文利用2003—2007年全国30个省区市的实际利用外资额和市场分割的相关数据,通过动态面板数据的实证分析,研究了市场分割因素及国有控股比重对FDI区位选择的影响。实证研究表明,劳动力成本这一传统FDI区位变量对当前外商直接投资的区位分布没有显著的影响,而地方财政分权带来的市场分割、国有控股比重、市场规模等因素在我们的实证结果中具有统计显著性。本研究不仅利于扩展市场分割理论的应用范围,也有助于我们从一个新的视角审视既有的FDI区位理论及其适用性,并且对我国地方政府未来招商引资政策的制定具有重要的启示意义。
Based on the data of actual use of foreign capital and market segmentation in 30 provinces and autonomous regions in China during 2003-2007, this paper studies the influence of market segmentation factors and the proportion of state holding on the choice of FDI location through the empirical analysis of dynamic panel data. Empirical studies show that labor cost, a traditional FDI location variable, has no significant effect on the current location distribution of foreign direct investment. However, the factors such as market segmentation, proportion of state-controlled shares and market size in local fiscal decentralization are not statistically significant in our empirical results Statistically significant. This study not only helps to expand the application scope of market segmentation theory, but also helps us examine the existing theory of FDI location and its applicability from a new perspective and is of great significance to the formulation of the future investment promotion policies for local governments in our country.