| Foreign direct investment and export trade are two main ways for multinational companies to expand overseas markets.The relationship between them has been the focus of international economy.They may be complementary,alternative,or the relationship between them may be affected by factors such as characteristics of host country,structure of industry etc.In the strategy of "going out",the foreign direct investment grows rapidly,China ranked the third for the first time in the investment rankings.Our country put forwards the great idea of "the silk road economic belt".Its purpose is to develop the trade between China and countries along "the silk road economic belt",and enhance the level of trade facilitation.At present our country strengthens the investment of infrastructure construction in these countries.The increase of investment in the countries along "the silk road economic belt" is a continuation of the strategy of "going out".The volume of China's foreign direct investment reached $196.15 billion in 2016,and ranked second in the world.In this background,how is the relation between OFDI and export? Trade facilitation is an important factor for the export.It is also one of the factors that affect the decision of FDI.Will the trade facilitation enhance the export effect of foreign direct investment? Our country faces with weak economic growth,excess production capacity,import and export trade challenges such as cases.The attention to this problem is of great significanceThe empirical analysis which is based on the BACI database tries to find the factors that affect our export and three margins to the countries along the “silk road”.On this basis,according to further analysis,this paper tries to put forward the strategies which promote out export to the countries along the “silk road”.The main work and achievements in this paper are as follows:Firstly,this article combed the theory of foreign direct investment,trade facilitation and their influences on export.We also review the papers which are focus on the factors that affect our export to the “silk road”.Given the fact that there is no definition of "the silk road economic belt" countries,base on the historical development process of the “silk road”,this paper eventually chooses five central Asian countries,Russia,Pakistan and other countries around central Asia,16 countries in central and eastern Europe as the “silk road economic belt” countries and research objects.This article measures the level of trade facilitation of countries along the "silk road",and analyzed he opportunities,challenges,the current situation of trade between china and the “silk Road”Secondly,this part analyzed the influences that the cross term of trade facilitation and OFDI,trade facilitation,FDI have on the export to the countries along the “Silk Road”.Theoretical basis part: first,disclose the influence mechanism of OFDI and export trade,trade facilitation and export trade;secondly base on enterprise heterogeneous theory,this article analyzes the partial effect that the trade facilitation which will lead to a low iceberg cost has on export effect of OFDI.Further theory proves that the decrease of iceberg cost will lead to more platform type investment and less horizontal investment.Platform type investment takes a high proportion in our country.This paper argues that the trade facilitation is helpful to promote the export effect of OFDI.In the empirical part,we use the method of two system GMM,the data from 31 countries along the "silk road" samples to empirical analysis the effects that the cross term of trade facilitation and OFDI,trade facilitation,OFDI have on export.The empirical results show that the trade facilitation is helpful to promote the export effect of OFDI.The higher the level of trade facilitation in countries along the "silk road",the greater the export effect of OFDI is in China.Foreign direct investment and trade facilitation have significantly positive effects on exports.Thirdly,this part analyzed the influences that the cross term of trade facilitation and FDI,trade facilitation,FDI have on the three margins of export to the countries along the “Silk Road”.First of all,the BACI database is used to calculate the three margins of our export to the countries along the “Silk Road” from1998 to 2015.we found that export volume growth explains most of the increase of our export to the countries along the “Silk Road”,Followed by price increase,the last is the growth of product category.The empirical method is 2sls of fixed effect,and this article analyzed the influences that the cross term of trade facilitation and OFDI,trade facilitation,OFDI have on the three margins of export to the countries along the “Silk Road”.The empirical results show that The empirical results show that the cross terms has positive effect on export quantity margin and extended margin,and has no significant effect on price margin.The level of trade facilitation has no significant effect on quantity margin,negative effect on price margin,and positive effect on extended margin.This is consistent with the above theoretical expectations.Fourthly,this part focus on the problem that how to improve the level of trade facilitation,thus promoting export growth.Taking central and eastern European countries as an example,we use PPML to empirical analysis the influence of the central and Eastern Europe trade facilitation on China and the EU countries,and then compare the difference of the impact.And we try to find the measures which can promote the export from China and the EU countries to central and eastern European countries.This article tries to give some advice to industry choice of investment in the Eastern European countries in the perspective of trade facilitation which will be helpful to promote the bilateral trade.This is also helpful to provide theoretical support for the win-win spirit of "silk road".The main contributions of this article to the existing literature are as follows:(1)This article extends the theory of the effect that trade facilitation has on OFDI "export effect".Based on the enterprise heterogeneity theory,we find that the effect that the trade facilitation has on the OFDI is uncertain.By further analysis,we found it will enhance export effect of OFDI.Trade facilitation will promote "intensive margin" and "extended marginal" which are caused by OFDI.This is the main contribution to the existing theory in this paper.In terms of empirical analysis,this article introduces cross terms of trade facilitation and FDI in the model,which proved that the conclusion of theoretical analysis is same to the empirical conclusion.(2)This paper is the first one to introduce the framework of three margins into the research of foreign direct investment "export effect".This broadens the research perspective of the export effect of OFDI.This article disclosed the influence mechanism of OFDI and three margins.From the perspective of export effect of FDI,we try to explore the strategy which leads to high quality and diversity of export.(3)In the aspect of strategy research,we take the central and eastern Europe for an example.Adopting PPLM estimation method,this article finds the differences between sea,land and air infrastructure on the development of China's trade with central and Eastern Europe.This article tries to give some advice to industry choice of investment of China in the eastern European countries in the perspective of trade facilitation.This article tries to provide a new angle for the choice of industry for OFDI.(4)In this paper,we empirical analyze the influence of trade facilitation in the central and Eastern Europe on China and the EU countries.This article tries to find the common interests for both China and the EU countries in the central and Eastern Europe import market.And both of them achieve a win-win situation.This article provides a new perspective for the development of the trade between China and the central and eastern European. |
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