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| Impact of Bidirectional Foreign Direct Investment Synergistic Development on Resource Misallocation in China |
| YANG Xiaomei1,XIAO Hongye2 |
1. School of Economics, Henan University
2. School of Statistics, Tianjin University of Finance and Economics
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Abstract Using Chinese provincial panel data from 2003 to 2018, this paper investigates the impact of bidirectional foreign direct investment synergistic development on resource misallocation in China. The results show that the bidirectional foreign
direct investment synergistic development can improve the misallocation of capital and labor resources in China significantly, but the impact shows regional differences. Meanwhile, the impact of bidirectional Foreign Direct Investment synergistic development on the resource misallocation in China shows the stage characteristics: when the capita income is below 19821 Yuan (before 2007), bidirectional foreign direct investment synergistic development has no effect on the misallocation of capital and labor resources in China. When the capita income is between 19821 Yuan and 49542 Yuan (2008 to 2015), bidirectional
foreign direct investment synergistic development can improve the misallocation of capital resources but not labor resources. When the capita income is greater 49542 Yuan (after 2015), bidirectional foreign direct investment synergistic development can improve the misallocation of capital and labor resources in China significantly. Further, interactive studies show that he bidirectional foreign direct investment synergistic development can significantly enhance financial deepening and improve capital allocation efficiency, while at the same time raising labor cost for improving labor allocation efficiency.
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Received: 02 April 2020
Published: 13 August 2020
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Corresponding Authors:
YANG Xiaomei
E-mail: yangxiaomei_0301@163.com
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2020, Vol. 40 
浙公网安备 33011802000512号