Impact of Investment Openness on National External Wealth: Based on Valuation Effects Perspective

Figure 2

Investment efficiency improvement shock (1%), the dynamic response of variables under different degrees of investment openness. Note: The solid line, the short dotted line, and the long dotted line represent the value at 0.01, 0.10, and 0.20, respectively. SFX represents the impulse response route of SF after being impacted by investment efficiency improvement (X), then SFX1, SFX2, and SFX3 represent the dynamic trend of the share of outward investment impacted by investment efficiency improvement when the value is at 0.01, 0.10, and 0.20, respectively. Q, CA, VA, and NFA express the same meaning as SF.

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