| In order to implement our "going out" strategy, China has been the largestdeveloping country to attract foreign direct investment for many years, and the scaleof outward foreign direct investment is increasing, too. At the same time, however, weshould recognize that the cultural tradition as well as related economic institutionplays an important role in OFDI of different regions, thus causing a big difference inthe spatial distribution of OFDI. The relationship of domestic institutional supply andOFDI has been attracted extensive attention. Due to limited data or technicalrestrictions, there are many deficiencies in existing research, which affecting theexplanation power of reality and decision-making reference value. Based on abovereasons, we demonstrated the effect mechanism of domestic institution on OFDI.Then we tested its influence with a sample of Chinese provincial panel data during2003-2010, and made a research on institutional driving factor and concrete effects ofOFDI from the aspects of legal institution and economic institution, The results ofwhole sample show that the protection of intellectual property rights and producer’slegal right has a positive effect on OFDI. In economic institution, governmentadministration, economic growth and human resources play outstanding roles inpromote enterprises to engage in OFDI, and government administration holds aleading position in it. The results of different regions show that the effects ofintellectual property rights protection and openness in central and western areas arelarger than that in eastern areas, while the effects of producer’s legal right protection,government administration and financial intermediary marketlization in eastern areasare larger than that in central and western areas. In addition, Lighten the burden oftaxes on enterprises, economic growth and human resources also have positive effectson OFDI in both regions, but its effects doesn’t exist an obvious difference. |
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