| With the development of Reformation, our country's economy has increased rapidly; a mass of foreign direct investment (FDI) has been absorbed into our country. So far our country has been one of the most popular targets invested by FDI in the world. As the same as the FDI, private investment in our country is the necessary power to drive the economy going up. Both FDI and private investment play the important part in the development of our country. In order to research the mutual influence between FDI and private investment, the thesis chooses to discuss the point about FDI influence on the private investment in our country. The thesis constitutes of six parts.Chapter 1 is to summarize the related theories about FDI and private investment. These theories become the analysis base of the thesis.Chapter 2 analyses the situation that China makes use of FDI. There are four stages in review of the use of FDI. The first is the emerging stage (1979-1985) during which FDI was with little amount and narrow scale and few developed countries were involved. The following is the adjusting stage (1986-1991) with more civil provinces took part in FDI. The third stage is high-speed development (1992-1995). The U.S. and E.U. participated in FDI and contributed a lot to our foreign trade growth. The last stage is steady development (1996-present). We switch our attention to quality rather than quantity. Over 20 years of development, FDI plays important role to our economy growth, who promotes our industrialization, offers funds for fixed capital investment, creates tax income, brings job opportunity, and drives the technology improvement.Chapter 3 analyses the situation of civilian investment. Compared with FDI, there are also four stages, which called emerging (1978-1985), adjusting (1986-1991), high-speed developing (1992-1997) and steady developing (1998-present), in civilian investment history. In the first stage, the easier environment for investing made the beginning step. In the second stage, there was a setback under national control. In the third stage, civilian investment enjoyed a high-speed development with the policy direction. In the last stage, civilian investment made a healthy and steady growth under effective controls and policies. Civilian investment made great contribution to our economy construction. From the aspect of supply, civilian investment helped economy structure adjustment; increases financial income; solves some employment problem; made solid foundations for marketing mechanism operating.Chapter 4 makes an analysis on the influence of FDI on civilian investment from both positive and negative aspects. The positive influence of FDI on civilian investment mainly includes: capital formation effects, technical overflow effects, knowledge overflow effects and trade creation effects. FDI brings capital for the civilian ventures which have difficulty in money lending from the financial market; FDI promotes the technical advance for the civilian ventures; FDI brings knowledge and advanced experience in sales, management, and organization, and spot labor management, inventory management, and quality control for civilian ventures; FDI also creates enormous trade volume for the civilian ventures and promotes the foreign trade development of the civilian ventures. The negative influence of FDI mainly lies in its extruding and merging effects to the civilian ventures. FDI enjoys flourishing development under the preferential policy of our government, while our civilian ventures suffers difficulty in development due to the disadvantage in policy, plus the capital and technical deficiency of our civilian ventures compared with FDI, the extruding effects of FDI to our civilian ventures is obvious. Meanwhile, our civilian ventures are no longer themselves under the siege of capital formation effects of FDI, they have been controlled by FDI, and the consequence of the foreign acquisition must be paid attention to by our civilian ventures.Chapter 5 uses best linear unbiased estimation method and through the operational software Eviews, aiming to figure out the quantitative relations between FDI and civilian ventures under the theoretical analysis of the influence of FDI on our civilian investment, so as to draw the conclusion from the perspective of econometrics for the reference of our civilian investment.Chapter 6 makes a summary of the thesis based on above analysis. |
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