Research On The Mode Choice Of Current Overseas Cultivated Land Investment Throughout The World

With the growing world food crisis recently, most countries perceive food security asthe first national security strategy, and different measures are taken to ensure food security,for example, countries lack of cultivated land resources seek other countries’cultivated landresources to protect their food security. Under the background of increasingly tensecultivated land area and agriculture going out strategy in China, some enterprises beganto join the ranks of overseas cultivated land investment, but in practice there made mistakes.Therefore, establishing overseas cultivated land investment strategy is necessary, whichwill refer to choosing investment mode. This paper does not attempt to design the optimalmode but aims at exposing the general law of overseas cultivated land investment modechoices based on theoretical analysis and case study, which will provide theoreticalguidance for overseas cultivated land investment practice.First, through combing the history and current condition of overseas cultivated landinvestment worldwide and analyzing416cases from GRAIN(an international NGO), thepaper classified prevalent modes of current overseas cultivated land investment worldwideinto three types: government department dominant investment mode, agriculturalenterprises dominant investment mode and financial institutions dominant investment mode,and summarized respectively. Then, multivariate logistic regression model was used toempirical test on factors that influence on overseas cultivated land investment mode choice.The results showed: development level of the host countries is the most influential factor ofmode choice, followed by investment capital, development level of the investors andcultural distance, while the impact of investment area is not as large as desired.Finally, representative cases were chosen to analyze and put forward correspondingsuggestions about the guiding ideology, the cultivated land access and operation mode,which provide experience for mode choice of China’s overseas cultivated land investment.At last, the paper summarized the research achievement, research insufficiency, and futureresearch prospects.