Foreign Direct Investment (FDI),as a form of international capital flow, not only brings investment elements to the host country, but also more likely results in the spillover effect of knowledge and technology and improves the technological progress or labor productivity of the host country. As a focused country of foreign direct investment, how to make good use of the spillover effect of foreign capital and make the economy embark on the path of endogenous development is a question worth studying. Due to the vast territory of our country and the different levels of economic development in various regions, the levels of infrastructure, human capital, industrial structure and market system are also quite different. Economic structures in different regions with different levels of economic development have different economic development paths and different elastic coefficients of capital and labor force. There are also significant technological advances. Based on the level of economic development, this paper divides China into four types according to two indicators: the output per capita and its growth. Inner Mongolia, Jiangsu, Shandong, Jilin and Tianjin represents the high per capita economic output and high growth rate regions. Zhejiang, Heilongjiang, Liaoning, Fujian, Guangdong, Shanghai and Beijing represents high per capita economic output with low growth rate regions; and the areas with low per capita economic output and high growth rate include Guizhou, Shaanxi, Sichuan, Hubei, Hunan, Guangxi, Qinghai, Gansu, Jiangxi; the areas with low per capita economic output and high growth rate are represented by Anhui, Henan, Ningxia, Yunnan, Hebei, Shanxi, Hainan and Xinjiang. For the four regions with different economic development trajectories, the impact of FDI on Total Factor Productivity (TFP) is studied separately. The impact of FDI on regional TFPs includes technology injections and technology spillovers. There is a certain threshold effect of technology diffusion, by the regional human capital, infrastructure, openness and other factors. In addition, the industrial distribution of FDI affects the spillover effect. The technology spillover effect of FDI mainly exists in industrial enterprises, so there are differences in the impact of TFP in different economic development path areas. This paper chooses the data of 2002-2015 and estimates the elastic coefficient of capital and labor in four regions according to the production function, and finds that there are both scale effects, and then the total factor productivity is calculated according to Solow residual to study the difference of FDI impact on TFP : FDI has a significant impact on total factor productivity in areas with low per capita economic output and high growth rates (Guizhou, Shaanxi, Sichuan, Hubei, Hunan, Guangxi, Qinghai, Gansu and Jiangxi) and no significant impact on the other three regions . Combined with the impact mechanism of FDI on total factor productivity and the economic characteristics of each province, the measurement results are analyzed. Although the impact of FDI on technological progress in the region is only very significant for one of the four regions, the cumulative effect of capital accumulation on FDI plays a role in the capital stock and thus in the production function throughout the region. Finally, based on the empirical results, this paper put forward the corresponding policy recommendations.
Gli investimenti esteri diretti (IED), come forma di flusso di capitali internazionali, non solo apportano elementi di investimento al paese ospitante, ma hanno anche maggiori probabilità di effetto di ricaduta della conoscenza e della tecnologia e migliorano il progresso tecnologico o la produttività del paese ospitante . In quanto paese focalizzato di investimenti diretti esteri, come sfruttare al meglio l'effetto di ricaduta del capitale straniero e fare in modo che l'economia intraprenda il percorso di sviluppo endogeno è una questione che vale la pena studiare. A causa del vasto territorio del nostro paese e dei diversi livelli di sviluppo economico in varie regioni, i livelli di infrastrutture, capitale umano, struttura industriale e sistema di mercato sono anche molto diversi. Le strutture economiche nelle diverse regioni con diversi livelli di sviluppo economico hanno differenti percorsi di sviluppo economico e diversi coefficienti elastici di capitale e forza lavoro. Ci sono anche significativi progressi tecnologici. Sulla base del livello di sviluppo economico, questo articolo divide la Cina in quattro tipi in base a due indicatori: l'output pro capite e la sua crescita. La Mongolia Interna, il Jiangsu, lo Shandong, il Jilin e Tianjin rappresentano l'alta produzione economica pro capite e le regioni con un alto tasso di crescita. Zhejiang, Heilongjiang, Liaoning, Fujian, Guangdong, Shanghai e Pechino rappresentano un'elevata produzione pro capite con regioni a basso tasso di crescita; e le aree con produzione economica pro capite bassa e alto tasso di crescita includono Guizhou, Shaanxi, Sichuan, Hubei, Hunan, Guangxi, Qinghai, Gansu, Jiangxi; le aree con produzione economica pro capite bassa e alto tasso di crescita sono rappresentate da Anhui, Henan, Ningxia, Yunnan, Hebei, Shanxi, Hainan e Xinjiang. Per le quattro regioni con diverse traiettorie di sviluppo economico, l'impatto degli Ide sulla produttività totale dei fattori (TFP) è studiato separatamente. L'impatto degli IDE sulle TFP regionali comprende iniezioni di tecnologia e ricadute tecnologiche. Vi è un certo effetto soglia della diffusione della tecnologia, del capitale umano regionale, delle infrastrutture, dell'apertura e di altri fattori. Inoltre, la distribuzione industriale degli Ide influisce sull'effetto di ricaduta. L'effetto di ricaduta della tecnologia degli IDE esiste principalmente nelle imprese industriali, quindi vi sono differenze nell'impatto della TFP nelle diverse aree di sviluppo economico. Questo documento sceglie i dati del 2002-2015 e stima il coefficiente elastico del capitale e del lavoro in quattro regioni in base alla funzione di produzione e rileva che vi sono entrambe le dimensioni effetti, e quindi la produttività totale dei fattori viene calcolata in base al residuo di Solow per studiare la differenza di impatto degli IDE sulla TFP: gli IDE hanno un impatto significativo sulla produttività totale dei fattori nelle aree con produzione economica pro capite bassa e alti tassi di crescita (Guizhou, Shaanxi, Sichuan, Hubei, Hunan, Guangxi, Qinghai, Gansu e Jiangxi) e nessun impatto significativo sulle altre tre regioni. In combinazione con il meccanismo di impatto degli investimenti esteri diretti sulla produttività totale dei fattori e le caratteristiche economiche di ciascuna provincia, vengono analizzati i risultati delle misurazioni. Sebbene l'impatto degli Ide sul progresso tecnologico nella regione sia molto significativo solo per una delle quattro regioni, l'effetto cumulativo dell'accumulazione di capitale su IDE ha un ruolo nel capitale sociale e quindi nella funzione di produzione in tutta la regione. Infine, sulla base dei risultati empirici, questo documento ha avanzato le raccomandazioni politiche corrispondenti.
The influence of FDI on total factor productivity in different regions in China
ZHANG, SHUTING
2016/2017
Abstract
Foreign Direct Investment (FDI),as a form of international capital flow, not only brings investment elements to the host country, but also more likely results in the spillover effect of knowledge and technology and improves the technological progress or labor productivity of the host country. As a focused country of foreign direct investment, how to make good use of the spillover effect of foreign capital and make the economy embark on the path of endogenous development is a question worth studying. Due to the vast territory of our country and the different levels of economic development in various regions, the levels of infrastructure, human capital, industrial structure and market system are also quite different. Economic structures in different regions with different levels of economic development have different economic development paths and different elastic coefficients of capital and labor force. There are also significant technological advances. Based on the level of economic development, this paper divides China into four types according to two indicators: the output per capita and its growth. Inner Mongolia, Jiangsu, Shandong, Jilin and Tianjin represents the high per capita economic output and high growth rate regions. Zhejiang, Heilongjiang, Liaoning, Fujian, Guangdong, Shanghai and Beijing represents high per capita economic output with low growth rate regions; and the areas with low per capita economic output and high growth rate include Guizhou, Shaanxi, Sichuan, Hubei, Hunan, Guangxi, Qinghai, Gansu, Jiangxi; the areas with low per capita economic output and high growth rate are represented by Anhui, Henan, Ningxia, Yunnan, Hebei, Shanxi, Hainan and Xinjiang. For the four regions with different economic development trajectories, the impact of FDI on Total Factor Productivity (TFP) is studied separately. The impact of FDI on regional TFPs includes technology injections and technology spillovers. There is a certain threshold effect of technology diffusion, by the regional human capital, infrastructure, openness and other factors. In addition, the industrial distribution of FDI affects the spillover effect. The technology spillover effect of FDI mainly exists in industrial enterprises, so there are differences in the impact of TFP in different economic development path areas. This paper chooses the data of 2002-2015 and estimates the elastic coefficient of capital and labor in four regions according to the production function, and finds that there are both scale effects, and then the total factor productivity is calculated according to Solow residual to study the difference of FDI impact on TFP : FDI has a significant impact on total factor productivity in areas with low per capita economic output and high growth rates (Guizhou, Shaanxi, Sichuan, Hubei, Hunan, Guangxi, Qinghai, Gansu and Jiangxi) and no significant impact on the other three regions . Combined with the impact mechanism of FDI on total factor productivity and the economic characteristics of each province, the measurement results are analyzed. Although the impact of FDI on technological progress in the region is only very significant for one of the four regions, the cumulative effect of capital accumulation on FDI plays a role in the capital stock and thus in the production function throughout the region. Finally, based on the empirical results, this paper put forward the corresponding policy recommendations.| File | Dimensione | Formato | |
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The Influence of FDI on Total factor Productivity in Different Regions in China-Shuting Zhang(875739).pdf
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https://hdl.handle.net/10589/139266