CAJ | 학술논문

笔者通过把法律制度嵌入扩展投资引力模型，利用我国2003年-2011年向58个代表性国家（或地区）投资的面板数据，实证研究投资国和投资东道国（或地区）法律制度对我国OFDI的影响。实证结果验证了传统投资引力模型结论的正确性，同时认为我国OFDI具有明显的法律制度寻求动机，投资东道国（或地区）良好的法治运行环境和对私有产权的保护对我国OFDI有较大引力，我国目前法治完善度和产权保护度还相对较低，是助推OFDI的重要因素。文章结论对政府制定OFDI发展战略优化海外投资地理结构有一定的参考价值。
필자통과파법률제도감입확전투자인력모형，이용아국2003년-2011년향58개대표성국가（혹지구）투자적면판수거，실증연구투자국화투자동도국（혹지구）법률제도대아국OFDI적영향。실증결과험증료전통투자인력모형결론적정학성，동시인위아국OFDI구유명현적법률제도심구동궤，투자동도국（혹지구）량호적법치운행배경화대사유산권적보호대아국OFDI유교대인력，아국목전법치완선도화산권보호도환상대교저，시조추OFDI적중요인소。문장결론대정부제정OFDI발전전략우화해외투자지리결구유일정적삼고개치。
Through embedding the legal system in expanded gravity model, and using 58 representative countries＇（ or regions＇） panel data of 2003 - 2011, the paper empirically studies the effect of investor and investment in the host countries＇（ or regions＇） legal sys- tem to China＇ s OFDI. The empirical results verify the correctness of the traditional investment gravitational model, and at the same time think that China＇s OFDI has the motivation of legal system seeking; the operating environment of legal system and protection of private property rights of the host country （or region） have larger gravity on China＇ s OFDI; now legal sophistication and property protection degree of China are relatively low; it is an important factor in boosting OFDI. The conclusion of the study has a certain reference value to the government OFDI strategies and the optimization of the geographical structure of outward foreign investment.