CAJ | 학술논문

FDI（外商直接投资）是改革开放以来我国经济增长的重要推动力。有观点认为人民币升值会导致FDI流入的减少。针对这一观点,本文建立在引力模型基础上,增加了劳动力成本、资源成本、贸易总量和汇率效应变量。经过分析发现,汇率是影响FDI的首要因素,经济总量和国际经济周期因素也是FDI流入的重要影响因素,同时劳动力成本的影响效应也很显著。
FDI（외상직접투자）시개혁개방이래아국경제증장적중요추동력。유관점인위인민폐승치회도치FDI류입적감소。침대저일관점,본문건립재인력모형기출상,증가료노동력성본、자원성본、무역총량화회솔효응변량。경과분석발현,회솔시영향FDI적수요인소,경제총량화국제경제주기인소야시FDI류입적중요영향인소,동시노동력성본적영향효응야흔현저。
Since the reform and opening up,FDI has been an important impetus to the economic development of China.Some people deem that the appreciation of RMB will lead to the decrease of the FDI inflow.In order to test this hypothesis,this paper explores the main factors that influence FDI inflow and examines the specific impact of exchange rate regime reform of China on the FDI inflow.We base our model on the classic gravity model and extend it to encompass exchange rate,labor cost,resources cost,etc.The result shows that resources cost is the primary factor that influence China＇s FDI inflow,the labor cost and trade volume are also very significant,while the exchange rate is not.