本文實證探索1990~2010年全球化環境下，當國內環境改變，影響及於外人來臺從四種不同類別投資活動時，臺灣地區食品加工產業產出水準所受到的影響。實證估計分二個方向進行：首先檢視國內外環境絕對變動的影響，其次檢視相對環境變動的影響。本文同時估計食品加工產業對各種融通管道的依賴性。 實證估計果如下：首先，當國內環境改變，無論是屬於有利於吸引外人來臺從事直接投資、股權投資、債權投資或引進國外短期融通性資金時，本質上屬於內需型產業的食品加工產業並不會受到顯著的影響。其次，利用外資淨流入變數下，當相對環境變動改變不利於臺灣時，無論該變動層面是屬於實質面或貨幣面，其對國內食品加工業的影響皆屬輕微。最後，無論國內環境如何改變，食品加工產業對能否取得流動負債的依賴性最高，股權資金居次。 This thesis empirically examines the effects of domestic external environmental changes which in turn affect four types of foreign capitals inflow, on the output levels of the food processing industrial in Taiwan. We examine the effects of absolute changes as well as the relative changes in domestic environments. The dependences of running the food processing industry on various accommodations channels are also examined. Our findings are as follow. First, when the domestic environment changes whether it creates favorable condition to attract foreign direct investment, stock investment, bond investment or other short rum accommodations, the essentially non-tradable food processing industry is not affected significantly. Second, using the net inflows as the explanatory variables, the estimated results show that whenever there is an unfavorable change in domestic environment, the effects are minimal irrespective to whether the changes involved are in the real sector or in the monetary sector. Finally, no matter what happened to the domestic environment, the ability to acquire liquid liability plays the most crucial role in running the food processing industry, while the issuance of stock shares the second.
