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论文类型：期刊论文
发表时间：2018-01-01
发表刊物：GLOBAL ECONOMIC REVIEW
收录刊物：SSCI
卷号：47
期号：4
页面范围：419-433
ISSN号：1226-508X
关键字：Outbound FDI; domestic investment; time series; ARDL; China
摘要：China's rising outbound foreign direct investment (ODI) has raised concerns as to whether it substitutes or complements domestic investment (DI). We demonstrated specification weaknesses in the previous studies and present fresh evidence on ODI-DI nexus for China. Utilizing ARDL approach for time series macroeconomic data, the study detects long-run negative one-way causality running from ODI to DI. The results provide robust evidence supporting the view that Chinese outbound foreign direct investment crowds out DI in the long run.