Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2022.2053866
Stepping-stone or stumbling block: impact of the economic system on China’s OFDI
He Xia
Fang Dong
Hong Yang
Sažetak
With the proposal of the One Belt, One Road initiative, China’s
OFDI has grown rapidly, with institutions playing key roles. This
study uses residualization and threshold regression methods to
analyse the 2003–2019 panel data of 31 provinces and cities in
China to study the impact of property rights protection, market
operation, and financing systems on China’s foreign outward direct investment (OFDI). Overall, the results show that only the market operation system is key in promoting OFDI. Regarding
regional heterogeneity, the property rights protection system has
a solely positive incentive effect on OFDI in the central region.
Moreover, the market operation system only plays a positive role
in promoting OFDI in the eastern developed and central regions.
The financing system has a threshold effect, which has significant
negative and positive impacts on OFDI in the eastern and central
regions, respectively. Conversely, the financing system’s impact
changes from significant to insignificant in the western region
before and after the threshold value. This study provides a theoretical reference for economic system reform in the process of
implementing the strategy of “going out” in various regions.
Ključne riječi
Economic system; OFDI; property right protection system; market operation system; financing system
Hrčak ID:
303023
URI
Datum izdavanja:
31.3.2023.
Posjeta: 160 *