FOREIGN DIRECT INVESTMENT AND INCOME INEQUALITY: HUMAN CAPITAL MATTERS
用跨国数据实证发现，人力资本水平决定了外国直接投资对收入不平等的影响：低于临界值时，FDI改善收入分配；高于临界值时，FDI加剧不平等。
ABSTRACT This paper empirically examines whether human capital defines the association between foreign direct investment (FDI) and income inequality. Rather than focusing on one country or region, we investigate with a broad cross section of countries to address parameter heterogeneity across countries. Using the instrumental variable threshold regressions approach, we find a significant threshold level of human capital, below which FDI exerts a disproportionately positive (negative) impact on the relatively poor (rich) and hence improves income distribution. Beyond this critical level, however, FDI benefits (harms) the nonpoor (nonrich) most and thus exacerbates income inequality.