Determinants of Chinese OFDI Location: Based on the Geographical Distance and Cultural Distance Test
研究了地理距离和文化距离对中国对外直接投资（OFDI）分布不平衡的影响，发现短距离国家中地理距离抑制投资，长距离国家中则促进投资；文化距离存在阈值效应。
There is significant imbalance in the presence of Chinese OFDI in different continents.This paper attempts to find the effect of geographical distance and cultural distance as well as their transmission mechanism on the imbalanced distribution.First,this paper applies the panel data of all recipient countries of Chinese OFDI from 2003~2010 to have the full sample test,and indicates that Chinese OFDI is negatively corrected with geographical distance and cultural distance.Then we divide the sample countries into two groups by their geographical distance from China.The regression results of the two subsamples suggest that geographical distance in the short distance countries bears significant negative impact on Chinese OFDI while geographical distance in the long distance countries motivates Chinese OFDI.At last,we divide the sample countries into two groups by their cultural distance from China and found there is similar threshold effect while cultural distance beyond that limit has no obvious effect on Chinese OFDI.Therefore,various formal and informal trade and cultural communication should be fostered to weaken the obstacles and perfect the spatial pattern of Chinese OFDI.