房价对外商直接投资的影响分析r——基于35个大中城市面板数据

摘要

基于我国35个大中城市2002~2014年的面板数据,分析房价对外商直接投资的影响.结果显示:房价通过收入效应和挤出效应两种机制对中国的外商直接投资产生影响.房价对外商直接投资的综合影响显著为正;劳动成本、金融发展水平与外商直接投资显著负相关.因此,应建立长效的房地产调控机制,稳定房地产市场预期,从而推动其投资于实体经济发展.%Based on the panel data of 35 large and medium cities in China for 2002~2014,this paper analyzes the impact of housing prices on foreign direct investment. The results show that:housing prices affect China's foreign direct investment through two mechanisms,namely income effect and crowding out effect. Thecomprehensive effect of housing prices on foreign direct investment is significantly positive,the effect of labor cost,financial development level on foreign direct investment are significantly negative. Therefore,the government should establish a long-term real estate regulatory mechanism,stabilize the property market expectations,in order to promote foreign investment in the real economy.