密级
硕士学位论文
题目 双循环背景下我国双向 FDI 协调发展影响因素及企业对策研究
（英文）Research on the influencing factors and enterprises;
countermeasures of coordinated development of Two-way FDI in China
under the background of double circulation
研 究 生 学 号: 19052202011
研 究 生 姓 名: 张晓婷
指导教师姓名、职称: 高建华教授
申 请 学 位 门 类: 管理学
学 科专 业: 企业管理
论 文 答 辩日 期:2022 年 06 月 05 日
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摘要
摘要
“引进来”、“走出去”，始终是我国对外开放的准则，双向 FDI 协调发展水平是我
国开放程度、开放质量的检验标准之一。“双循环”新发展格局新时代赋予了外商来华
投资和我国对外直接投资新的使命和任务。双向FDI 这一领域备受关注，但大部分是
单一研究 IFDI 和 OFDI，对于双向FDI、IFDI 和 OFDI 的耦合度、协调发展水平，学
术界研究文献不多，对影响协调发展水平的影响因素研究就更甚之。因此本文致力于
研究在双循环发展格局下新背景下双向 FDI 的协调发展水平，并实证各种不同因素对
我国双向 FDI 协调发展水平的影响。
本文选用我国2010-2020 年各省的面板数据，首先分析 IFDI 和 OFDI 的互动机理，
两者分别通过正向技术溢出效应和逆向技术溢出效应影响对方，发现两者互相影响互
相依赖促进双方协调发展。其次用耦合系统模型测度了IFDI 和 OFDI 协调发展水平，
实证知识产权保护水平、科研力度投入、基础设施、贸易开放程度、政府支持力度和
经济发展水平和一带一路等变量对双向 FDI 协调发展水平的影响，且分样本研究双向
FDI 协调发展的空间差异性。结果表明，我国双向 FDI 协调发展水平总趋势为平稳增
长状态，但总体暂处于较低水平，未来进步空间较大；我国双向FDI 协调发展水平存
在显著的空间差异性，不同地区差异加大，依次为东部高于中部高于西部。此外知识
产权保护水平、科研投入力度、政府支持力度、经济发展水平和加入一带一路等因素
都对双向 FDI 协调发展水平有着不同程度正向影响，即上述因素均对双向FDI 协调
发展水平都具有积极的作用；通讯网络密度和贸易开放程度负向影响双向 FDI 协调发
展水平，可能是由于我国地域面积太广，各地区差异较大，对双向 FDI 发展水平的影
响是非线性的，还需要其他条件配合。上述结论在分地区研究下仍成立。
IFDI 和 OFDI 宏观上面是国家间的投资贸易活动，但企业是国家双向直接投资的
桥梁和韧带，任何双向投资活动最终还是落到企业身上。基于此，本文从实证结果出
发，基于企业的角度给予相关建议。树立“引进来”与“走出去”同等重要的对外开放意
识，增加科技研发费用支出，提升科技水平；了解知识产权知识，注重对知识产权的
保护；在双循环新发展格局下，提高自主创新能力，增强企业竞争力等建议。
关键词：双向FDI 协调发展；耦合系统模型；知识产权保护；科研投入
IAbstract
Abstract
"Bringing in" and "going out" have always been the criteria for China;s opening up,
and the coordinated development level of two-way FDI is one of the testing criteria for the
degree and quality of China;s opening up. The new era of "double cycle" new development
pattern endows foreign investment in China and China;s foreign direct investment with
new missions and tasks. Two-way FDI has attracted much attention, but most of them are
single studies on IFDI and OFDI. There are few academic research literatures on coupling
degree and coordinated development level of two-way FDI, IFDI and OFDI, especially on
the factors influencing the coordinated development level. Therefore, this paper is
committed to studying the coordinated development level of two-way FDI under the new
background of dual-cycle development pattern, and empirically demonstrating the
influence of various factors on the coordinated development level of two-way FDI in
China.
In this paper, panel data of provinces in China from 2010 to 2020 are selected to first
analyze the interaction mechanism of IFDI and OFDI. The two affect each other through
positive technology spillover effect and reverse technology spillover effect respectively,
and it is found that the two influence each other and depend on each other to promote the
coordinated development of both sides. Followed by coupling system model to measure
the IFDI OFDI and coordination development level, the empirical knowledge property
right protection level, the level of scientific research investment, infrastructure, openness to
trade, government support and the level of economic development and the coordinated
development level variables such as all the way to the bidirectional FDI, and points the
samples the coordinated development of two-way FDI spatial heterogeneity. The results
show that the overall trend of coordinated development of two-way FDI in China is steady
growth, but the overall level is at a relatively low level, and there is a large space for future
progress. There are significant spatial differences in the coordinated development level of
two-way FDI in China, and the differences among different regions increase, which is
higher in the east than in the central than in the west. In addition, intellectual property
protection level, scientific research investment intensity, government support intensity,
economic development level and joining the Belt and Road initiative all have positive
effects on the coordinated development level of two-way FDI to varying degrees, that is,
all the above factors have positive effects on the coordinated development level of
two-way FDI. The density of communication network and the degree of trade openness
IIAbstract
negatively affect the coordinated development level of two-way FDI, which may be due to
the fact that China;s geographical area is too wide and regional differences are large, and
the influence on the development level of two-way FDI is non-linear, and other conditions
are needed to coordinate. The above conclusions are still valid in different regions.
On the macro level, IFDI and OFDI are investment and trade activities between
countries, but enterprises are the bridge and ligament of national two-way direct
investment, and any two-way investment activities will eventually fall on enterprises.
Based on this, this paper from the empirical results, based on the perspective of enterprises
to give relevant suggestions. We should establish a sense of opening up that "bringing in"
is as important as "going global", increase spending on scientific and technological
research and development, and improve the level of science and technology. Understand
the knowledge of intellectual property and pay attention to the protection of intellectual
property; In the new development pattern of double circulation, improve the independent
innovation ability, enhance the competitiveness of enterprises and so on.
Key words: two-way FDI coordinated development; Coupling system model;
Intellectual property protection; Scientific research into
III