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1、一、外文原文Chinesestate’seconomiccooperationRelatedinvestment:AninvestigationofitsdirectionandsomeImplicationsforoutwardinvestmentBy:SumonBhaumikandCatherineYapCoSumonKumarBhaumik*BrunelUniversity,WilliamDavidsonInstitute,UniversityofMichigan,AnnArbor,andIZA–Instituteforth
2、eStudyofLabour,BonnEmail:Sumon.Bhaumik@brunel.ac.ukCatherineYapCo**UniversityofNebraskaatOmahaEmail:cco@mail.unomaha.eduAbstractTheChinesestateundertakeslargescaleinvestmentsinanumberofcountriesundertheauspicesofeconomiccooperationrelatedinvestment(ECI).Whilethereares
3、uggestionsthatitisanextensionofChina’ssoftpoweraimedatfacilitatingChineseFDIinthosecountries,oftenforaccesstonaturalresources,thereisnosystematicanalysisofthisintheliterature.Inthispaper,weexaminethisinvestmentoftheChinesestateovertime.Ourresultssuggestthatthepatterno
4、finvestmentisindeedexplainedwellbyfactorsthatareusedinthestylizedliteraturetoexplaindirectionalpatternsofoutwardFDI.Theyalsodemonstratethatthe(positive)relationshipbetweenChineseECIandtherecipientcountries?naturalresourcerichnessisnoteconomicallymeaningful.Finally,whi
5、lethereissomesupportforthepopularwisdomthatChina’swillingnesstodobusinesswithacountryisnotstronglyaffectedbyitslevelofcorruption,thereismuchweakersupport,ifany,forthehypothesesthatChinafavorsdoingbusinesswithcountrieswherepoliticalrightsarelimited.Runningtitle:China’s
6、economiccooperationrelatedinvestmentsKeywords:China;Economiccooperationrelatedinvestment;Foreigndirectinvestment;Naturalresources;InstitutionalqualityIntroduction2011,RisksinGlobalMarketTherisksintheglobalmarkethavebeenchangingrapidly.Thethemeoftheworldeconomyin2010is
7、notsomuch“recovery”as“adjustment”.Shockedbytheglobalfinancialcrisis,economiesbegantoquestionandreconstructthegamerulesoftheglobalbusiness.Thistrendmaycontinueandevendeepenin2011.Althoughtheimpactofthefinancialwoesmayclearawayinthisyear,itishardfortheglobaleconomytogos
8、teadilyup.Thesideeffectsofthecrisisarefarfromnegligibleandmayleadtomoreuncertaintiesinsomeareas,suchasEuropeandAfrica.Thisre