汇率制度影响FDI的比较研究

汇率制度对FD I的影响主要体现为不同汇率制度下汇率波动对FD I的影响。而不同汇率制度对FD I的影响各有利弊,且大国经济与小国经济表现不一,一国的不同发展阶段也各不相同。通过经验分析,整体上看,小国固定汇率制度有利于吸引FD I,一国经济发展的初级阶段,执行固定汇率制度对FD I有更大的吸引力,而对于开放的大国经济而言,不管是什么汇率制度,对FD I的影响都不大。对经济正在崛起的中国而言,目前所执行的更加灵活的浮动汇率制度将继续保持对FD I的吸引力。

An Empirical Study of Foreign Direct Investment under the Influence of the Exchange Rate System

The exchange rate system influences FDI mainly through the fluctuation of exchange rate under different exchange rate system.Moreover the influence on FDI can be different in relation to the economy scale and the different stage of the country.On the whole,we have concluded on the basis of empirical analyses that the fixed exchange rate system is advantageous to attract FDI in small countries.And the fixed exchange rate system has a stronger attraction to FDI at the primary stage of development in the country.But for the open and great economy,all exchange rate systems have weak influence on FDI.To China whose economy is growing,the relatively more flexible floating exchange rate system that we carry out at present will maintain its attraction to the FDI.