The Determinants and Motivations of China's Outward Foreign Direct Investment: A Spatial Gravity Model Approach

被引:65
作者
Chang, Shun-Chiao [1 ]
机构
[1] Natl Taiwan Univ Sci & Technol, Dept Business Adm, Taipei, Taiwan
关键词
Outbound foreign direct investment; augmented gravity model; surrounding market potential effect; spatial effect; INTERNATIONAL-TRADE; LOCATION CHOICE; COMPETITION; EQUATION; FDI; STRATEGIES; AGREEMENTS; SERVICES; TOURISM; EXPORTS;
D O I
10.1080/1226508X.2014.930670
中图分类号
F [经济];
学科分类号
02 ;
摘要
The study attempts to investigate the features and determinants of China's outward foreign direct investment (OFDI) into 138 countries and Chinese firms' investment strategies over the 2003-2009 period using an augmented gravity model with spatial linkages. The respective evaluations of China's OFDI are indicative of the important role played by non-financial OFDI. At the same time, Chinese firms prefer to invest in high-tech industries in developed countries while also focusing on the extraction of natural resources around the world. The empirical findings show that the host country's economic size has a significantly positive effect in terms of promoting Chinese OFDI. Chinese firms favour a complex-vertical platform in the developed countries while they prefer a market potential foreign direct investment (FDI) surrounding the host developing countries and an export-platform FDI in the petroleum exporting countries based on the surrounding market potential effect and spatial effect. The fuel extraction motive plays a key role in China's OFDI in line with the realities of Chinese FDI strategies in recent years.
引用
收藏
页码:244 / 268
页数:25
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