Efficiency change and convergence test of attracting foreign direct investment in China
Investment environment is one of the factors that lead to the imbalanced economic development among different regions in China.There is an input-output relationship between construction of investment environment and foreign direct investment attraction,which is embodied in the efficiency of attracting foreign direct investment.This paper calculates the efficiency of attracting foreign direct investment in China's prefecture-level cities from 2003 to 2019 with DEA-Malmquist model,and analyses the convergence.The results show that the efficiency of attracting foreign direct investment goes down by 2.2%from 2003 to 2019,which is probably due to the slow progress in attracting foreign direct investment.There is δ convergence in the efficiency of attracting foreign direct investment at both national and regional level,and the convergence is the largest in the central region.At the same time,there are absolute β convergence and conditional β convergence in the efficiency of attracting foreign direct investment at both national and regional level,and the half life cycle of absolute convergence is more than 40 years.The above conclusions are valid after a series of robustness tests.In addition,the research finds that labor cost,industrial structure,trade openness and fiscal expenditure have significantly promoted the convergence of the efficiency of attracting foreign direct investment.Based on the above research findings,policy suggestions are put forward to improve the efficiency of attracting foreign direct investment and promote the high-quality economic development.
efficiency of attracting foreign direct investmentDEA-Malmquist modelconvergence analysis
万方数据
维普
