earticle

영어

In this study, we analyze the foreign direct investment in the Asian region, which has the closest geographical proximity to China and has the largest number of investment countries. Foreign direct investment by Chinese companies in Asian countries was $ 1.5 billion in 2003 and $ 84.99 billion in 2014. 53% in 2003 and 69% in 2014, Asian countries account for the largest portion of China's foreign direct investment. The analysis method was panel unit root test to verify the stability of the data. Panel cointegration was used to test whether there was a stable long-term equilibrium relationship between the data. Next, long-term model analysis, panel Granger causality test and vector error correction model analysis were performed. Long-term model analysis shows that China's foreign direct investment in Asia has a positive effect on exports to the target countries. And the economic growth of the target countries seems to have an effect on China's export growth. According to the results of Granger causality analysis, it is shown that Chinese companies' foreign direct investment in Asia is influential on the export of Asian countries in time lag 1 and time lag 2. Chinese exports to the Asian countries and foreign direct investment seem to affect GDP in Asia. Therefore, the foreign direct investment of Chinese enterprises in the Asian countries has a positive effect on the export of Chinese enterprises. And foreign direct investment by Chinese firms in Asian countries has a positive effect on the GDP of the target countries. China's foreign direct investment in Asian countries can be regarded as a positive-sum game by contributing to the growth of China's exports and the economic growth of the target countries.