数字经济发展水平对双向FDI协调发展的影响研究

Research on the Impact of Digital Economy Development Levels on the Coordinated Development of Bidirectional Foreign Direct Investment

摘要: 在全球价值链数字化重构的背景下，国际直接投资正从单向流动转向双向协同的新范式。传统研究多将吸引外资(IFDI)与对外投资(OFDI)分开探讨，忽视了数字经济可能带来的融合驱动作用。因此，本文以2005~2023年全球47个主要经济体为样本，研究数字经济发展水平对双向FDI协调发展的影响。首先，从数字基础设施、数字产业、数字创新与数字融合四个维度，构建了综合性的数字经济发展水平指标体系；同时，采用耦合协调度模型对双向FDI协调发展水平进行了科学测度。其次，通过构建双向固定效应模型与中介效应模型，系统检验了数字经济影响双向FDI协调发展的作用机制与边界条件。最后，基于实证发现提出差异化的政策建议，旨在为各国推动高水平双向投资协同提供理论依据与实践指引。

Abstract: Amidst the backdrop of the digital restructuring of global value chains, international direct investment is transitioning from unidirectional flows toward a new paradigm of bidirectional synergy. Traditional research often examines inward foreign direct investment (IFDI) and outward foreign direct investment (OFDI) separately, neglecting the potential integrative driving force that the digital economy may bring. Accordingly, this paper takes a sample of 47 major global economies from 2005 to 2023 to study the impact of the level of digital economy development on the coordinated development of bidirectional FDI. First, a comprehensive indicator system for the level of digital economy development is constructed from four dimensions: digital infrastructure, digital industry, digital innovation, and digital integration; concurrently, a coupling coordination degree model is employed to scientifically measure the level of coordinated development of bidirectional FDI. Second, by constructing two-way fixed-effects models and mediation effect models, the paper systematically examines the mechanisms and boundary conditions through which the digital economy influences the coordinated development of bidirectional FDI. Finally, based on the empirical findings, differentiated policy recommendations are proposed, aiming to provide theoretical foundations and practical guidance for countries to promote high-level coordinated bidirectional investment.