|Abstract: ||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。|
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.