Economic Zones and Firms' outward FDI: Evidence from China
Guofeng Zhang;Junru Chen;He Li;
Abstract:
This paper contributes to the literature by identifying the casual effect of economic zones on firms' outward FDI. Using the data of Annual Survey of Industrial Firms(ASIF) merged with List of Chinese Firms' FDI, empirical results present the promoting effect of economic zones on firms' FDI and the mechanism of firms' productivity and financing constraints. After the robustness test, the results remain valid. Finally, this paper documents some heterogeneity of the effects across the types of economic zones, firms and FDI.
Key Words:
Foundation: 北京市社会科学基金一般项目“数字化赋能北京市制造业企业价值链攀升”(项目号:21JJB015)的资助
Authors: Guofeng Zhang;Junru Chen;He Li;
References:
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- ① 数据来源于商务部发布的《中国对外投资发展报告2019》。 (1)数据来源于《中国开发区审核公告目录》(2018年版)。 (2)Buch et al.(2008) 从该数据库中整理得到2001—2006年间德国企业层面的数据。 (3)Buch et al.(2008)从该数据库中得到微观企业的对外直接投资数据。 (4)根据《中国开发区审核公告目录(2006年版)》所公布的国家级开发区名录识别国家级开发区。根据企业名称、地址方法无法识别国家级、省级开发区。此处采用县区代码的方法识别国家级开发区和省级开发区。 (5)通过企业名称、地址的方法无法识别开发区功能类型,此处按照开发区审核公告目录,通过县区代码的方法进行识别。
- Guofeng Zhang
- Junru Chen
- He Li
- School of International Trade and Economics
- University of International Business and Economics
- Postdoctoral Research Workstation of Beijing State-owned Capital Operation and Management Company Limited
- Guofeng Zhang
- Junru Chen
- He Li
- School of International Trade and Economics
- University of International Business and Economics
- Postdoctoral Research Workstation of Beijing State-owned Capital Operation and Management Company Limited