导　　师： 杨全发

学科专业： 020206

授予学位： 硕士

作　　者： ;

机构地区： 中山大学

摘　　要： 在全球FDI活动日趋活跃的背景下,FDI对于发展中国家经济发展的重要性显著提高。但基于双方利益角度的不同,其经济行为也可能出现不一致性。一方面,跨国公司通过考察东道国的各种环境因素,作出投资决策,决定采用出口模式还是FDI模式,以及在东道国建立独资企业还是合资企业,以利润最大化原则为前提在全球逐利;另一方面,东道国政府也通过进口关税、知识产权保护力度、股权份额限制等政策的松紧来对FDI进行导向,以促进本国民族产业发展,提高社会福利水平。双方的决策及经济行为形成一个动态博弈过程。 本文设置在东道国政府政策引导下,国有企业吸引外商投资,形成合资企业的情境,建立三方三阶段动态博弈模型。第一阶段,东道国政府设置一定的进口关税水平、知识产权保护力度以及外商合资股权份额限制;第二阶段,跨国公司根据这些政策作出投资决策,决定采用出口模式还是FDI模式;第三阶段,跨国公司采用FDI模式构建合资企业与私营企业在东道国市场进行古诺竞争。根据子博弈精练纳什均衡的概念,采用逆向归纳法求解模型,最后利用参数模拟,得出跨国公司与东道国政府各自的决策。 结论是,东道国政府在设定进口关税及知识产权保护力度的前提下,将选取一个最优的外商股权比例,以保护本国经济利益,争取本国社会福利水平的保持和提高。而跨国公司在东道国进口关税水平、知识产权保护力度、外商股权份额限制既定的条件下,将运用自身所能控制的技术投入量,在以FDI模式对东道国注资的过程中影响东道国的福利水平,从而致使东道国政府重新评估衡量该经济效应,调整招商引资的相关政策。以此证明在东道国招商引资构建合资企业的过程中,东道国政府对进口关税、知识产权保护力度以及股权份额限制这几种政策工具� Nowadays, FDI is more and more active all around the world. It also plays a more important role for developing countries’development. Base on different interests, there are different economic strategies of the two sides that may be somehow conflictive. On the one hand, multinational enterprises /(MNE/) make out their investing decisions and entering patterns after analyzing the environment of host countries, purchase profit all around the world. On the other hand, governments of host countries guild FDI’s flow direction to improve their social welfare through combination of different policies. This paper sets up a situation that the host country attract the MNE to invest for building a joint venture that contains state-owned capital, then develops a model of three stages and three players, including the MNE, the corporation and the government of the host country. In the first stage, the government of the host country set up certain level of tariff, intellectual property right /(IPR/) protection, foreign equity limit /(FEL/). In the second stage, the MNE decides which entering pattern to choose. In the third stage, firms compete in Cournot fashion in the host country’s market. The conclusion is, the government of the host country will set up an appropriate level of foreign equity to enhance its social welfare. But on the other side, the MNE can also enhance or reduce its technological input to impact the host country’s welfare, in order to protect its own profit. It proves that in the process of inviting investments from overseas, the government of the host country should set up an appropriate policy combination, to attract FDI and at the same time improve its own social welfare. This paper’s latter part will do an experience analysis and further discuss China’s FDI policies.

关 键 词： 外商合资 进口关税 知识产权保护 股权份额限制

领　　域： [经济管理] [经济管理] [经济管理] [经济管理]