| 摘要: |
| 对外直接投资是推动货币国际化发展的重要影响因素之一。利用 1998~2016年日本与东道国的双边数据，结合动态空间杜宾模型，探究日本 OFDI对日元国际化的影响。结果发现，日本企业“走出去”对日元国际地位提升具有直接而积极的影响，但其空间溢出效应不明显。由此可知，在推进货币国际化过程中，持续的对外直接投资具有必要性；同时，应集中关注母国 OFDI的行为本身及其全球投资分布对本国货币国际化的直接影响。 |
| 关键词: 对外直接投资 日元国际化 人民币国际化 动态空间杜宾模型 |
| DOI： |
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| 基金项目:教育部人文社会科学研究青年基金项目“生产性服务业进口对中国制造业转型升级的影响研究”(项目编号:17YJC790036)、中国博士后第 62批面上基金项目“中国生产性服务业进口对产业结构升级的作用研究”(项目编号:2017M621143)、东北财经大学博士后科研项目(项目编号:BSH201706)。 |
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| The Impact of Japan’s Outward Direct Investment on Yen Internationalization: An Analysis Based on Dynamic Spatial Durbin Model |
| FU Yingjie,LIAO Yameng |
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| Abstract: |
| Outward foreign direct investment is one of the most important driving forces to promote currency internationalization. By using the bilateral direct investment data between Japan and its partners in 1998~2016, this paper constructs a dynamic spatial Durbin model to analyze the effect of Japan’s outward direct investment on yen internationalization. We find that the increase of Japan’s outward direct investment has direct effect on yen internationalization, while the spatial effect is not obvious. In order to promote currency internationalization positively, we need to pay more attention to the behavior of outward foreign direct investment and the global geographic distribution of investment. It is also necessary to invest to host countries continuously for currency internationalization. |
| Key words: outward direct investment yen internationalization RMB internationalization dynamic spatial Durbin model |
