导　　师： 刘少波

学科专业： 020204

授予学位： 博士

作　　者： ;

机构地区： 暨南大学

摘　　要： 我国是引进外商直接投资(以下简称fdi)最多的发展中国家，我国渐进式经济转轨的成功部分得益于fdi持续的流入。fdi对我国经济增长产生资本形成效应、技术溢出效应和就业效应等。但是，fdi对我国经济增长的积极影响能否有效发挥要受许多条件制约，其中我国金融发展水平是主要制约因素之一。改革开放以来，我国金融发展水平迅速提高，研究我国金融发展对fdi经济增长效应的影响对我国下一步完善利用外资政策、选择金融深化改革方向有着重要的理论与实践意义。 本文主要运用经济增长理论、金融发展理论及fdi相关理论，以理论分析与实证分析相结合等研究方法，力图研究以下两个问题：一是fdi对我国经济增长的影响效果是如何受到金融发展水平制约的?二是对金融发展影响fdi的资本效应及溢出效应进行理论和实证研究。另外，为了充分发挥fdi对我国经济增长的积极效应，本文还从深化金融改革的角度提出一些政策建议。 本文研究的主要成果是：一是在新古典经济增长理论框架下，建立金融发展影响fdi资本效应理论模型，并利用我国分省面板数据进行实证分析，得出我国金融发展水平降低了fdi资本挤出效应的结论；二是在内生经济增长理论框架下，建立金融发展影响fdi溢出效用理论模型，并进行实证分析，得出我国金融发展制约了fdi溢出效应的结论；三是从深化金融改革的角度提出了充分发挥fdi对我国经济积极效应的政策建议。 China is the top developing country in introducing Foreign Direct Investment /(hereinafter as 'FDI'/). The success of Chinese gradual reform partly benefits from the continuous inflow of FDI. FDI influences our country's economic growth based on capital formation effect, technology spill-over effect and employment effect etc. Whether FDI will play positive roles effectively on our country is restrained from many conditions, among which the development level of finance is one of the main factors. Our country's financial development level has been greatly improved since reform and opening-up. It is important both in theory and practice to research financial development on the economic growth effect of FDI in our country in order to further improve foreign investment policy and choose the direction of financial deepening reform. Based on economic growth theory, financial development theory and relevant FDI theory, and combining theoretical and empirical analysis methods, this paper proceeds to research on the following two issues: One is the micro mechanism for the financial development's influence on economic growth effect of FDI. The other one is the theoretical and empirical study on the influence of financial development on the capital effect and spill-over effect of FDI. Besides, this paper also puts forward some policy suggestions on fully playing positive effect of FDI on economic growth from the respect of deepening financial reform. The main results of this paper are as follows. Firstly, under the framework of neoclassical economics growth theory, this paper sets up a theory model on how financial development influences FDI capital effect. Then analyzes empirically using provincial panel data and concludes that the financial development level reduces FDI capital crowding out effect. Secondly, under the framework of endogenous economics growth theory, this paper sets up a theory model on how financial development influences FDI spill-over effect. Then analyzes empirically and concludes that the financial development restrains FDI spill-over effect. Thirdly, this paper puts forward policy suggestions on fully playing positive effect of FDI on economic growth from the respect of deepening financial reform.

关 键 词： 外商直接投资 溢出效应 金融改革 经济增长

分 类 号： [F832.48]

领　　域： [经济管理]