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1、外文翻译原文AnEmpiricalStudyofForeignDirectInvestmentLocationinEasternChinaMaterialSource:TheChineseEconomy,vol.41,no.6,November–December2008,pp.75–98.Author:XingLi,KeqiangHou,andM.W.LukeChanAbstract:Thispaperexaminesthedeterminantsofforeigndirectinvestment(FDI)fortheEasternRegionofChinaasawholebyexclu
2、dingthetwolesserjurisdictionsandconcentratingontheBigFivejurisdictionsfrom1993to2005.RobustestimatesandabetterunderstandingofFDIinEasternChinaareobtainedbyemployingrobustOrdinaryLeastSquares(OLS),therandomeffectmodel,andthefixed-effectmodelseparatelyoneachcase.Withoutanyoutliersandserialcorrelati
3、oninresiduals,theBigFivecasegivesusthemostreliableestimatesofdeterminantsofFDIinEasternChina.Marketsizeandlaborqualityarefoundtohaveapositive,significant,andquantitativelylargeeffectonFDIinEasternChina,whereaseducationandinfrastructurehaveastatisticallynon-significantpositivedirecteffectonFDI.Asf
4、ortheleveloflocalphysicalinvestment,wefoundasmallcrowding-outeffectonFDIintheBigFivecase.Foreigndirectinvestment(FDI)inChinahasbeensubjectedtomanyyearsofdiscussionandstudy.ThisisadirectresultofthelevelandimpactofsuchinvestmentsonChina’soveralldevelopment.TheeconomicgrowthinChinasince1979andthebeg
5、inningofitsopen-doorpolicyhavebeenkeenlyobservedandstudied.Theeconomicgrowthphenomenonwitnessedinthepasttwodecadesissomethingneverbeforeseeninhumanhistory.Manyfactorshavetriggeredandpropelledsuchgrowth,includingnewtechnologyfromdevelopedcountries,theinfluxofmodernmanagement,and,ofcourse,foreigndi
6、rectinvestment.InanalyzingtheimpactofFDIonthegrowthanddevelopmentoftheChineseeconomy,China’sdifferenteconomicregionswillbedividedtoisolateandidentifytheregionaldifferenceswheresuchinvestmentaddedtothegrowthoftheeconomy(HsiaoandYan2003;Zhang2006).EconomicreforminChinahasprogressedrapidly,butalthou
7、ghtheopen-doorpolicybeganintheearly1980s,FDIdidnotbeginuntiltheearly1990s.Becauseofthistimelagthereisalackoftimeseriesobservations,andvirtuallyallempiricalanalysesofFDIusepaneldata.Thepresentstudyisnoexception.Thisstud
