중국의 대아세안 해외직접투자가 글로벌가치사슬에 미치는 영향 = The Impact of China’s Direct Investment in ASEAN on GVC

다국어 초록 (Multilingual Abstract)

This study focused on China's FDI in ASEAN, which has been increasing since the 2000s. In general, the inflow of FDI affects a country's economic and industrial structure and the GVC. Therefore, this study empirically analyzed the impact of China's FDI into ASEAN on the GVC. In particular, this study differentiated the analysis by dividing ASEAN into leading economies (ASEAN-5) and latecomer economies (CLMV) and dividing the GVC into forward participation and backward participation. First, as a result of conducting the Granger Causality test, the results show that FDI flowing into ASEAN and participation of the GVC show a significant causal relationship. In the panel regression analysis, ASEAN's total FDI inflow had a positive effect on the expansion of the GVC. It showed a high level of influence, especially in terms of backward participation. However, China's FDI in ASEAN, the main subject of this study, did not show a statistically significant influence on the GVC. This is presumed to be because China does not account for a large proportion of ASEAN's inflow of FDI.