Foreign Direct Investment and Total Factor Productivity in China: A Spatial Dynamic Panel Analysis*
构建了一个空间动态模型，用于评估外商直接投资产生的外部性对全要素生产率的影响，并利用中国1980-2005年省级面板数据发现，FDI外部性对区域内和区域间的全要素生产率均有显著正向影响。
Abstract This study develops a spatial dynamic model to assess the total‐factor‐productivity (TFP) effects of externalities generated by foreign direct investment (FDI). The model is capable of disentangling TFP effects from capital accumulation effects and introducing spatial interdependence based on theoretical derivation rather than spatial statistical tests. An application of this model to a panel dataset of China at the provincial level over 1980–2005 shows significantly positive impact of FDI externalities on TFP within and across regions. This finding is robust to a range of empirical specifications of our theoretical model, to different estimators, and to alternative proxies of FDI intensity variable.