| Today,the world is undergoing complex and profound changes,the profound impact of the international financial crisis continues to emerge,the world economy,trade and investment patterns,energy patterns have been entering the strategic adjustment,interconnection,cooperation and win-win to become the most powerful sound.Based on this,the strategy of "One Belt And One Road" will break the original point,block pattern of regional development,from the sea and land into the air,from vertical to horizontal,linking the east Midwest and major coastal port cities in our country,and then connect the two economic circles of Asia Pacific and Europe,realize the interconnection and intercommunication between countries and regions along the line,and based on economic belt resources endowment and the economic development level,to deepen energy interconnectivity,improve efficiency,strengthen industrial cooperation.However,how to give full play to the role of "One Belt And One Road" strategy along the way to improve national resources along the utilization factor endowments,and promote the flow of money is an urgent problem to solve.Many scholars have deeply thought and studied the above problems.This paper studies the relationship of the market openness,the resource factor endowment and OFDI fluctuation through conduction mechanism analysis and empirical analysis.In the analysis of the transmission mechanism of market openness,resource factor endowment and OFDI fluctuation,first,according to the Productivity Spillover Effect and investment demand to explain the effect of the increase of energy output on the rise of OFDI.According to the comparison of the labor cost and the marginal efficiency of capital to explain the changes of the number of labor force has a certain control effect on the OFDI;Secondly,we analyze the influence of the change of market openness on the volatility of OFDI.The influence of market openness on consumption analyzed mainly from the complementary effect and liquidity constraint effect.The influence of market openness on investment analyzed from direct investment effect and extrusion effect.Finally,this paper tries to consider from the regional level,and analyzes the dynamic relationship between the market opening degree,the resource factor endowments and the OFDI volatility.In the empirical study of the relationship between national market openness,resource factor endowment and OFDI fluctuation in the "One Belt And One Road",firstly,this paper selects a suitable global vector autoregressive model based on theoretical analysis,and gives a brief introduction to the estimation method of the model.Secondly,based on the monthly data between January 2007 and December 2016 of 64 countries along the "One Belt And One Road",an empirical study was conducted by using the global vector autoregressive model.The empirical results show that:firstly,the increase of market openness has a positive effect on OFDI of the host country,but there are regional differences in the impact strength.Second,the increase in energy production has a positive impact on OFDI of the host country.Third,the growth of labor force has negative effect on OFDI of host country and regional difference.In this paper,the empirical research on "One Belt And One Road" national market openness,resource factor endowment and OFDI fluctuation is innovative theoretical significance.This paper selects the country along the road as research object,the inherent conduction mechanism analysis of "The Belt and Road along the country market openness,resource endowment and OFDI fluctuation.On the one hand the research enriches the theory of foreign direct investment influence factors,on the other hand,it provides a new perspective for the study of "One Belt And One Road" along the country’s foreign direct investment,the adjustment in the direction of development of the foreign investment,to achieve positive interaction and its development. |
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