对外投资与经济增长关系的国际比较及启示

国际直接投资推动了世界经济的发展，中国自改革开放以来，在吸引外资方面发展迅速，但对外投资水平极低，在国际直接投资流入与流出上出现了严重的不平衡。笔者应用投资依存度国际比较及计量经济模型，分析了对外投资与一国经济总体规模的内在联系及其与一国全要素生产率增长的关系，结果显示，世界主要投资国的对外投资与其GNP之问存在较强的正相关关系并推动其经济增长，同时，对外投资对全要素生产率增长的贡献弹性大于国际贸易的贡献弹性。通过对比，揭示出我国不仅具有发展对外投资的必要性，而且也具有巨大潜力，在此基础上提出了促进我国对外投资的发展对策。

International Comparison of the Relationship between Outflow FDI and Economic Growth and Its Inspiration to China

International direct investment improved the world economic development greatly, and the level of capital transaction of a country indicates its degree of integration into world economy. In China, there exists a serious unbalance between outflow FDI (Foreign Direct Investment) and inflow FDI, and the former is of a extremely small scale. The relationship between outflow FDI and a country's economic development, as well as the relationship between outflow FDI and TFP (Total Factor Productivity) growth rate is analyzed with international comparison and econometrics model. The results show that a obvious positive correlation between outflow FDI and GNP exists, and outfolw FDI of a country improves its GNP growth a lot. Meanwhile, as to the contribution elasticity to TFP, outflwo FDI is much higher than international trade. It is revealed that China not only has necessities, but also has great potentialities to invest in foreign countries. Finally some suggestions are put forward.