FDI

FDI
FDI
30 FDI
FDI
FDI
FDI
F831

A
FDI

FDI

FDI

FDI FDI

Hymer 1960 Vernon 1966 Kindel-

berger 1969 FDI

Borensztein
et al. 1995 Glass et al. 2002 FDI
Leonard
et al. 2000 James et al. 2000
FDI
FDI

FDI

FDI FDI
FDI
FDI

FDI

FDI

FDI

FDI

2006 2006

FDI

2007 2007

FDI

FDI

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STUDIES O F INTERNATIO NAL FINANCE

77

FDI

FDI

FDI

FDI
FDI

FDI
FDI
20

FDI

FDI

FDI

FDI 20
70
40%
FDI

FDI

FDI

20 90

FDI

50%

FDI

FDI FDI

FDI

20 70 80
90
FDI 1970-1999
30 5 FDI

FDI

21

FDI

FDI FDI

2001-2003

FDI 3

2008 2009 FDI

2009 FDI
1.11 1999
FDI
FDI FDI

78

20123
STUDIES O F INTERNATIO NAL FINANCE

FDI
20
90

35% 15%


10% 20%
25%

88.4%
4.2%

7.4%

1995 27%

FDI

2009 37%

FDI

FDI

10%

FDI

FDI

FDI

FDI

FDI

FDI

FDI

FDI

FDI

FDI

FDI

FDI

20

90

FDI ,

FDI 30%

2000-2009 5

53% 5

67% 2009

2193

20123
STUDIES O F INTERNATIO NAL FINANCE

79

FDI 4863 1984-

2010 FDI 46.5%

FDI
2004 2003
535 2004-2010
6 FDI 1600
-1700
2005 7 21
30%

FDI

FDI
FDI

FDI

FDI 90%

20 21

FDI

FDI

2003 FDI 15.9%

FDI
2004
FDI
2010 48.6%
FDI 2003
77.3% 2010 46.9%
2010

FDI

20 80

FDI
1984-1991 13
44
1992
150% 100
2003 FDI 20 90

FDI 1996-2003

400-500
2004
FDI 2004 NDF
6%
FDI 600
2005 7.21
FDI
2004-2010

80

20123
STUDIES O F INTERNATIO NAL FINANCE

FDI

FDI 2007


FDI

FDI

15% 10% -

11% 2007 FDI

FDI
22.9% 2007-2010 FDI
765 4 FDI
21% 1997-2006 10
1.33

FDI

2009
18%
2009 FDI
9974 2009
1795

2009 1961

FDI

FDI

FDI

2005

FDI

FDI

2011 4 1

1795
FDI

2010

FDI

2010

2010 2005-2009

FDI

FDI

FDI

2005 -

FDI

2010 FDI 8758

2005-2009 FDI
1690 2010

1995

FDI

FDI

70 1995

400 2005-2010 6
2100

FDI

FDI

FDI

200

-300 2000-2005

FDI

2100

FDI 3150

2005 FDI 2000

FDI FDI

20123
STUDIES O F INTERNATIO NAL FINANCE

81

 






2006 FDI

FDI 14764

40%

20 80 FDI

300 372

2009 632

FDI

2006-2009 4 1996-

20 80

2005 10 3

GDP 60 CPI

400% 20 FDI
30
1 FDI 3
14764 FDI
4.5
1.79
30

2010

3 FDI

FDI

1982-2010
3.13
1.13 36%

FDI

1.13

FDI

FDI
2006-2009
FDI FDI
2013

1.16

FDI

FDI

FDI

30 FDI
FDI

FDI

2010

50%

82

20123
STUDIES O F INTERNATIO NAL FINANCE

FDI

50% 55%

2006 51% 2010

69%

FDI

2010

FDI
2010 2005-2009
20

FDI

FDI

FDI

FDI

FDI

FDI FDI

FDI

FDI

7 2009 FDI

+ + + +

2011

FDI

FDI

2010

41260 3108
7.5%
23354 FDI
14764 63.2%
FDI

FDI

2010 FDI
14764
FDI
FDI
FDI
FDI

20123
STUDIES O F INTERNATIO NAL FINANCE

83

FDI FDI

FDI

GDP

FDI

[1] . [J]. 2006 12 14-16

[2] . [J]. 2011 2
[3] . [J].
2006 1 83-87
[4] . [J]. 2007 21 134-136
[5] . [J]. 2007 2 104-109
[6] . [D]. 2009

[7] Borensztein E. Gregorio J. D. Lee J. W. How Does Foreign Direct Investment Affect Economic Growth[R].
NBER Working Paper 1995 5-10
[8] Glass A. J. Saggi K. Licensing versus Direct Investment Implications for Economic Growth [J]. Journal of International Economics 2002 56 131-153
[9] Hymer S. H. The International Operations of Nation Firms Study of Direct Foreign Investment [M]. Cambridge
MA. MIT Press 1976 25-50
[10] James R. Markusen, Anthony J. Venables. The Theory of Endowment Intra-industry and Multinational Trade [J].
Journal of International Economics 2000 52 209-230
[11] Kindelberger C. P. American Business Abroad Six Lectures on Direct Investment [M]. New Haven Yale University Press 1969 5-20
[12] Leonard K. Cheng Yum K. Kwan. What Are the Determinants of the Location of Foreign Direct Investment the
Chinese Experience [J]. Journal of International Economics 2000 51 380-395
[13] Vernon R. International Investment and International Trade in the Product Cycle [J]. Quarterly Journal of Economics 1966 5 190-207
Abstract The stability of FDI has been worsening all over the world in recent years as the profound revolutions take
place in such aspects as investment scale industry integration targeting industry and financing structure. Emerging economies face great challenges if FDI pour in and out of the host countries. China has been absorbing foreign investment for
about 30 years the positive function of which in funding domestic construction has diminished greatly. In order to defuse the
negative effects of the increasing volatility of FDI we need to review our FDI absorbing policies perfect statistics system
upgrade FDI structure and enforce the efficiency of the opening-up policy.
Keywords FDI Stability Retained Earning Capital Flight

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