Study On The Location Distribution Of FDI In Guangdong Based On The “Third Party Effect”

The Guangdong Province,which is known as the “Bridgehead” of the economy,Its FDI distribution presents a problem of large aggregates and extremely uneven distribution.In this context,the study of the distribution of FDI locations in Guangdong Province based on a third-party perspective has a strategic practical significance for the further introduction and utilization of foreign capital in Guangdong Province.Based on previous theoretical and empirical studies of scholars,this study used the cross-sectional data of 16 cities in Guangdong Province from 2001 to 2016 and the panel data of sub-regions(PRD,East Wing,North Wing and Mountain Areas)to conduct empirical research.The results show that:(1)For the spatial explanatory variables,the empirical results of different spatial measurement methods have both obtained that the spatial lag parameter ? and the market potential parameter are both significantly greater than zero,confirming that the dominant type of FDI investment in Guangdong Province is the agglomeration vertical composite type,which has both vertical and horizontal features.(2)In terms of traditional explanatory variables,market-oriented indicators,openness of society,first-class port's quantity,market size,market digestibility,foreign direct investment stocks,the technology level,the agglomeration index and the specialization index such nine variables have played a sustained and steady role in promoting FDI.(3)For the role heterogeneity of variables,not only the impact of different variables on FDI at different time points is heterogeneous in the region of Guangdong Province,but also the impact of different variables on FDI in different regions is heterogeneous.(4)In terms of regional agglomeration factors,the spillover effect of FDI in the Pearl River Delta region is coexistence of Jacobs spillover and MAR spillover.The FDI spillover effect in the other three economic regions is MAR spillover.Based on the above research results,this study proposes a series of innovative policy proposals such as the strategy of based on local conditions,advancing with the times to draw up investment strategies.