政府对外投资激励措施的有效性：中国的 "一带一路 "倡议

IF 1.7 4区经济学 Q2 ECONOMICS

Contemporary Economic Policy Pub Date : 2024-04-30 DOI:10.1111/coep.12646

Hangtian Xu, Fuqiang Yang, Wenzhuo Zheng

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引用次数: 0

摘要

根据 2013 年 "一带一路 "倡议，中国政府出台了一揽子鼓励企业国际化的政策。这一政策激励措施存在地区差异，在此基础上，我们研究了其对上市公司对外投资的影响。结果显示，特定行业的企业在获得激励政策后出现了资源错配；受益企业没有将激励政策用于海外投资，而是转向增加国内投资。相反，未受激励的行业（不鼓励国内发展的限制性行业）的企业则倾向于进行海外投资。我们提供了可能的解释。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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The effectiveness of government incentives for outward investment: The case of China's Belt and Road Initiative

Chinese government introduced a package of incentives to encourage enterprise internationalization under the 2013 Belt and Road Initiative. There is regional variation of this policy incentive, based on which, we examine its impact on listed firms' outward investment. The results evident resource misallocation in firms in specific industries which received incentives; instead of utilizing them for overseas investment, the beneficiary firms were directed toward increasing domestic investment. Contrarily, firms in industries that were not incentivized (restricted industries whose domestic development is not encouraged) were inclined to engage in overseas investment. We provide possible explanations.

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来源期刊

Contemporary Economic Policy Multiple-

CiteScore

3.10

自引率

6.70%

发文量

期刊介绍： Contemporary Economic Policy publishes scholarly economic research and analysis on issues of vital concern to business, government, and other decision makers. Leading western scholars, including three Nobel laureates, are among CEP"s authors. The objectives are to communicate results of high quality economic analysis to policymakers, focus high quality research and analysis on current policy issues of widespread concern, increase knowledge among economists of features of the economy key to understanding the impact of policy, and to advance methods of policy analysis.