数字政府建设赋能县域外商投资——来自县级政府开通政务微信的证据

Abstract

Actively attracting and utilizing foreign investment is a crucial component of promoting high-level opening-up and establishing a new framework for an open economy. This study utilizes the rollout of WeChat accounts by county-level governments in China as a quasi-natural experiment within the OLI paradigm of international production to systematically examine the impact of digital government development on foreign investment at the county level. Using data from government WeChat posts, the study finds that the establishment of these accounts significantly increases the number of foreign-invested enterprises registered in the counties. Mechanism analysis reveals that government WeChat reduces institutional transaction costs and alleviates uncertainty perceptions, thereby mitigating the 'liability of foreignness' in the foreign investment process. Additionally, the launch of government WeChat enhances local market potential, further facilitating foreign investment attraction in county regions. Heterogeneity analysis indicates that the positive effects are more pronounced in areas with a greater scope of government service functions, stronger government responsiveness, and a more favorable informal institutional environment. Further analysis demonstrates that the introduction of WeChat by county-level governments has also significantly promoted local economic growth.