외국인 직접투자기업과 국내기업 간의 차이: 원인과 정책적 함의

Abstract

우리나라의 외국인직접투자 통계(신고기준)에 의하면 1990년에 8.0억달러 수준이었던 외국인직접투자가 2000년대에 150억달러를 상회한 이후 최근 110억달러 수준에서 등락하는 모습을 보이고 있다. 한편 정부는 수출 증대, 일자리 확보 등을 위하여 정책적으로 외국인직접투자를 적극 지원하고 있다. 본고는 외국기업이 국내기업과 여러 측면에서 차이가 있는지를 여러 가지 분석방법을 이용하여 연구하였다. 특히 외국인투자지역을 입지별로 구분하여 입지별 진입 외투기업이 여타 기업과 생산성, 혁신성 등의 측면에서 차이가 있는지를 분석하였다. 1999년부터 2008년까지의 제조업체를 대상으로 분석한 결과 외투지역에 있는 기업들, 특히 개별형 단지에 있는 기업들이 여타기업에 비해 상대적으로 생산성이 높다고 판단할 만한 분석결과가 제시되고 있다. 한편 생산성 상승률은 통상적인 최소자승법을 이용할 경우 외투기업이 국내기업에 비해 높은 것으로 나타났지만 성향점수매칭분석 결과에서는 유의미한 차이를 보이지 않았다.

For inflows of Foreign Direct Investment (FDI), countries around the world have used many incentive systems. Those incentives to invite foreign firms entail a considerable burden on government budgets. The rationale behind incentive provision to invite foreign firms is there is a positive external effect in foreign investment and incentive provision mitigates market failure in the investment market. This study employed the Pooled ordinary squares model as well as the propensity score matching method. The present study uses data on all the firms that were subject to independent audit inspections in the South Korean manufacturing industry. The analysis does not find clear evidence to make the case for a statistically significant difference in productivity and innovation between the domestic firms and foreign firms by a type of special economic zones. Our research findings indicate that it is difficult to argue foreign-owned firms are superior to domestic firms with similar characteristics.

For inflows of Foreign Direct Investment (FDI), countries around the world have used many incentive systems. Those incentives to invite foreign firms entail a considerable burden on government budgets. The rationale behind incentive provision to invite foreign firms is there is a positive external effect in foreign investment and incentive provision mitigates market failure in the investment market. This study employed the Pooled ordinary squares model as well as the propensity score matching method. The present study uses data on all the firms that were subject to independent audit inspections in the South Korean manufacturing industry. The analysis does not find clear evidence to make the case for a statistically significant difference in productivity and innovation between the domestic firms and foreign firms by a type of special economic zones. Our research findings indicate that it is difficult to argue foreign-owned firms are superior to domestic firms with similar characteristics.