人民币国际化对我国对外直接投资的影响
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摘要
在探讨人民币国际化对我国对外直接投资的影响机制上,基于2010年至2017年的季度数据,通过建立计量经济模型,采用GMM模型和稳健性检验对人民币国际化是否促进我国对外直接投资进行了实证研究分析。研究发现:人民币国际化促进了我国对外直接投资的发展,是拉动我国对外直接投资不可忽视的因素。因此,应继续推动人民币国际化的进程,更好地实现人民币国际化与对外直接投资的协同发展。
From the perspective of theoretical analysis, this paper discusses the impact mechanism of RMB internationalization on China's ODI. Based on the quarterly data from 2010 to 2017, this paper establishes an econometric model, adopting GMM model and robustness test to conduct an empirical study and analysis on whether RMB internationalization promotes China's ODI. The empirical results show that the internationalization of RMB does promote the development of China's ODI and is an important factor driving China's ODI. Therefore, we should continue to promote the process of RMB internationalization and realize the coordinated development of RMB internationalization and ODI.
From the perspective of theoretical analysis, this paper discusses the impact mechanism of RMB internationalization on China's ODI. Based on the quarterly data from 2010 to 2017, this paper establishes an econometric model, adopting GMM model and robustness test to conduct an empirical study and analysis on whether RMB internationalization promotes China's ODI. The empirical results show that the internationalization of RMB does promote the development of China's ODI and is an important factor driving China's ODI. Therefore, we should continue to promote the process of RMB internationalization and realize the coordinated development of RMB internationalization and ODI.
引文
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[2] SAUVANT K P,DAVIES K.What Will an Appreciation of China's Currency Do to Inward and Outward FDI?[J].Transnational Corporations Review,2010,91 (2).
[3] 张晓涛,杜萌,杜广哲.中国对外直接投资(OFDI)对人民币国际化影响的实证研究[J].投资研究,2016(10):54-67.
[4] 赵庆明.人民币国际化的几点思考[J].投资研究,2011(11):144-150.
[5] 彭红枫,谭小玉.人民币国际化研究:程度测算与影响因素分析[J].经济研究,2017(2):125-239.
[6] 赵文兴.人民币国际化推广路径研究 ——基于国际货币职能的视角[J].金融发展研究,2017(12):60-66.
[7] 李优树,陈丹,向鹏达.中国对外直接投资影响因素的理论分析与实证检验[J].统计研究,2014(2):102-103.
[8] 杨建清.对外直接投资的区域差异及决定因素研究[J].管理世界,2015 (5):172-173.
[9] 林乐芬,王少楠.“一带一路”建设与人民币国际化[J].世界经济与政治,2015(11):72-90,158.
[10] 范祚军,夏文祥,陈瑶雯.人民币国际化前景的影响因素探究[J].中央财经大学学报,2018(4):30-43.