| Over the past 40 years of reform and opening up,China has achieved worldrenowned achievements in the field of foreign trade and economic cooperation.The proposal of the “Belt and Road” initiative has further opened the door for China.As a country along the "Belt and Road",Myanmar is an important country Partner.However,in recent years,with the deepening cooperation between China and Myanmar,the differences in the level of the institutional environment of the two countries have long imposed certain restrictions on the scale and quality of foreign trade and investment.In addition,the differences in production conditions such as technical conditions,labor,and natural resources are also.To a certain extent,it restricts the two countries to carry out large-scale economic and trade cooperation.On the other hand,this level of institutional environment and factor endowments have long troubled the smooth implementation of China’s "going global" strategy.Therefore,how to optimize the institutional environment to improve the quality of foreign economic and trade cooperation has become a problem that needs to be overcome urgently.Based on this,this paper first constructs a host country institutional environment system which integrates four dimensions of tax rate,market regulation,legal system guarantee and government operation,including two dimensions of trade and investment,as well as three dimensions of factor endowment system,including natural resources,technical level and labor force,and discusses the factors endowment conditions of different dimensions from the theoretical level The impact mechanism of institutional environment on economic and trade cooperation.Then,taking China and Myanmar as the research objects,this paper selects 2009-2017 data of China and Myanmar,analyzes the bilateral trade structure,trade scale and investment status,and further tests the impact of domestic institutional environment on trade import and foreign investment under the constraints of host country’s factor endowment.The research results show that:(1)The bilateral trade and investment between China and Myanmar are small and unevenly developed,and the trade structure and investment structure are not reasonable,but the complementarity of trade and investment is relatively high;(2)Myanmar’s institutional environment,such as the tax rate,the degree of market regulation,and the degree of government corruption,has negatively affected China’s exports to Myanmar,and the four dimensions of the institutional environment have generated enthusiasm for Chinese investment in Myanmar.China’s legal environment has played a significant role in promoting Myanmar’s exports to China.The tax rate,the degree of market regulation and the degree of government corruption have a positive impact on Myanmar’s investment in China,but the degree of legal protection has no significant impact on it;(3)Under the objective constraints of low factor endowment levels,the Myanmar government is also trying to improve the institutional environment,increase foreign trade,and continuously enrich the commodity import structure.However,the Myanmar institutional environment has affected China’s investment in Myanmar.Natural resource endowments It has a negative impact on labor endowments.Constrained by factor endowments,China’s institutional environment has no obvious effect on promoting Myanmar’s imports.China’s natural resources and technological conditions still enjoy a significant comparative advantage,which means that China’s natural resources and technology are Myanmar’s investment in China.A major obstacle.Based on the above analysis,this article further puts forward targeted suggestions,aiming to further enrich the research system of factor endowment,institutional environment and economic and trade cooperation through the above research,and at the same time provide a new pattern for China-Myanmar economic and trade cooperation and economic and trade cooperation between China and other countries a strong reference basis. |
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