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财贸经济  2014 

政府协议、制度环境与外商土地投资

, PP. 71-84

Keywords: 外商直接投资土地,制度环境,政府间投资协议,中国因素

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Abstract:

本文利用国际非盈利组织GRAIN的土地投资数据,分析了外商投资土地行为成败的因素。结果显示,东道国的制度环境会影响土地投资交易的成功率,两国政府间的土地投资协议有利于投资者在东道国开展土地投资,并且在制度环境质量好的东道国表现更为显著。“中国因素”不利于我国投资者进行海外土地投资,并且“中国因素”与土地面积耦合在一起影响土地投资成功率,土地面积越大,投资越难成功。此外,东道国人均GDP、外资开放度有利于外商直接投资土地,殖民关系、行政距离、东道国的市场规模与外商直接投资土地成功率显著负相关。投资土地的面积与成功率呈现“U”型曲线,海外收购经验有利于投资成功,但投资多元化、土地用途、进入模式和未来投资计划对外商直接土地投资成功的影响不显著。根据制度环境选择投资区位、建立与东道国双边联系机制、重视媒体作用、加强文化传播、广泛吸取海外投资经验、合理规划土地投资面积有利于我国海外土地投资。

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