本报告考察了对外直接投资（OFDI）对广东经济增长质量的影响及其渠道。基于2008～2019年省级面板数据，使用主成分分析法构造经济增长质量评价指标体系，研究发现：第一，OFDI对中国各省份的经济增长质量具有显著的正向作用，平均而言，OFDI每增加1%，地方经济增长质量将提高0.1%，这一影响在广东与其他省份中并无显著差异；第二，从影响渠道来看，OFDI主要是通过促进经济增长效率来提升经济增长质量，对经济增长稳定性和可持续性的影响则并不明显；第三，相比西部省份，中国东部与中部省份的OFDI对经济增长质量，以及对经济增长效率和增长可持续性的影响更大，但对增长稳定性的影响则并无显著差异；第四，在经济增长效率和增长可持续性方面，广东均优于全国平均水平，在经济增长稳定性方面广东则弱于全国平均水平。本报告的研究表明，OFDI对广东经济的高质量发展具有积极作用，应继续推进“走出去”政策，充分利用全球市场和技术，以提高广东经济增长质量。
This report investigates the impact of OFDI on the quality of Guangdong’s economic growth and the impact channels. Based on the provincial panel data from 2008 to 2019，using principal component analysis to construct the quality evaluation index system of economic growth，we find that：First，OFDI has a significant positive effect on China’s provincial economic growth quality. For every 1% increase of OFDI，the quality of local economic growth will improve 0.1% averagely. And the effect is no significant difference in Guangdong and other provinces. Second，from the perspective of the impact channels，OFDI mainly improves the quality of economic growth by promoting its efficiency，while the stability and sustainability of economic growth is not significant. Third，compared with the western provinces，OFDI in the eastern and central provinces has a greater impact on the quality of local economic growth，and its growth efficiency sustainability，but its impact on growth stability is not significantly different. Fourth，the economic quality and efficiency of Guangdong are better than the national average，but in terms of the stability of economic growth，Guangdong is weaker than the national average. This results shows that OFDI plays a positive role in the high-quality development of Guangdong’s economy. We should continue to promote the “going out” policy，make full use of the global market and technology，and improve the quality of Guangdong’s economic growth.
| Keywords： | GuangdongOutward Foreign Direct InvestmentPrincipal Component AnalysisQuality of Economic Growth |
