能源对外直接投资的进口贸易效应与类型甄别——基于结构式引力模型的系统GMM估计

发布时间：2018-08-08 19:08

【摘要】：文章根据2005~2013年中国能源对外投资与能源进出口贸易数据,构造结构式水平型与垂直型投资引力模型,运用系统广义矩估计法(GMM),实证检验了中国能源对外直接投资的进口贸易效应,并依据模型假设对能源投资的类型予以甄别。研究结果表明:总体上中国能源对外直接投资促进了能源进口贸易,且贸易量与中国及贸易伙伴国的GDP显著正相关,与地理距离显著负相关,与双边GDP之和(市场支付能力)弱负相关,与相对要素禀赋显著正相关;中国对高收入国家进行能源直接投资产生负向进口贸易效应即替代关系,而对非高收入国家产生正向进口贸易效应即互补关系;整体上中国能源对外直接投资表现为垂直分割生产型投资,其中对高收入国家的能源直接投资显著为垂直型投资,对非高收入国家则兼有水平型和垂直型投资特征。
[Abstract]:Based on the data of China's energy foreign investment and energy import and export trade from 2005 to 2013, a structural horizontal and vertical investment gravity model is constructed. This paper empirically tests the import trade effect of China's energy outward direct investment (OFDI) by using the system generalized moment estimation (GMM), and discriminates the types of energy investment according to the model hypothesis. The results show that China's foreign direct investment in energy promotes the energy import trade, and the volume of trade is positively correlated with the GDP of China and its trading partners, and negatively correlated with the geographical distance. It has a negative correlation with the sum of bilateral GDP (market ability to pay) and a significant positive correlation with relative factor endowments. The positive import trade effect on non-high-income countries is the complementary relationship. Overall, China's energy outward direct investment (OFDI) is vertical split productive investment, in which the energy direct investment in high-income countries is obviously vertical investment. For non-high-income countries, both horizontal and vertical investment characteristics.
【作者单位】：石河子大学经济与管理学院;
【基金】：国家社会科学基金一般项目“中国与中亚区域贸易投资便利化推进战略研究”(项目编号:13BGJ024) 新疆兵团屯垦经济研究中心基金“丝绸之路经济带建设背景下新疆国际大通道建设研究”(项目编号:XJEDU020214C04) 新疆研究生科研创新项目“中国-中亚FTA对双边贸易影响GTAP模拟测度与贸易政策研究”(项目编号:XJGRI2014044) 石河子大学高层次人才科研启动项目“中国与中亚FTA的贸易经济效应模拟测度与政策研究——基于GTAP模型的一般均衡分析”(项目编号:RCSX201401)的资助
【分类号】：F426.2;F752.6

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