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FDI被认为是经济高速增长与居民消费严重不足“冰火两重天”式奇特现象的重要答案。本文使用1990～2009年中国省级面板数据进行的实证检验表明,FDI推动中国经济增长的同时也提高了居民人均消费支出,其影响的主要渠道可能是增加当地居民收入和地方政府社保支出份额。文章设想的FDI负向影响居民人均消费支出的社会保障支出份额效应虽然有迹象表明是存在的,但其效应被FDI增加地方政府社保支出份额效应所抵消。文章设想的FDI负向影响居民人均消费支出的收入不平等效应则被证实是不存在的。在此基础上本文得出结论,中国经济“冰火两重天”现象的原因可能需要从经济体系内部寻找,强势政府和要素市场扭曲可能才是根源,FDI流入一定程度上还修正了这种制度的缺陷。
FDI is considered as an important answer to the peculiar phenomenon of rapid economic growth and serious consumer spending. This paper uses the empirical test of Chinese provincial panel data from 1990 to 2009 to show that while FDI promotes China’s economic growth and increases per capita consumption expenditure, the main channel of its influence may be to increase the income of local residents and the share of social security expenditure of local governments. Although there are some indications that FDI negatively affects the share of social security expenditure per capita consumption of residents in the article, its effect is offset by the effect of increasing share of social security spending by local governments. The negative effect of FDI envisaged in the article proves that the income inequality effect of per capita consumption expenditure on residents is proved to be non-existent. On this basis, the paper concludes that the reason for the “double-dip” in China’s economy may need to be looked for internally within the economic system. The distortion of strong government and factor markets may be the root cause. FDI inflows to some extent also correct this System defects.