Abstract When worker mobile from foreign-owned firms to domestic or to establish a new firm. FDI spillover will turn true. But a new firm needs finance from financial market. Based on this view, this article believe that financing efficiency have an important effect on worker mobility and FDI spillover. The improvement of financing efficiency will increase the possibility of worker mobility, which means that FDI spillover increase outputs of foreign-owned firms and domestic firms at the same time. Around these problems, this article analysis the effect of financial market on economic growth, and the effect will be enlarged by FDI spillover. Based on China data test, it can conclude that the associative action of FDI and financing efficiency has no drastically effect on economic growth, which means that FDI spillover due to worker mobility doesn't happen obviously.
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Received: 11 October 2006
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