This research examines the impacts of FDI inflows, institutional quality (IQ) and their interaction on income inequality in 36 Asian countries over the period 2000–2018. Results demonstrate that FDI exacerbates income inequality, and the improvement in IQ from FDI diminishes this detrimental impact until a threshold of IQ, then beyond that FDI reduces income inequality. Meanwhile, institutional quality reduces income inequality, and this beneficial effect is intensified with the rising FDI inflows. Notably, IQ moderates the impact of FDI on income inequality through the internal mechanism of government effectiveness, control of corruption, political stability and absence of violence/terrorism, and rule of law.

本研究考察了 2000 年至 2018 年期间 36 个亚洲国家的 FDI 流入、制度质量 (IQ) 及其相互作用对收入不平等的影响。结果表明，FDI 加剧了收入不平等，而 FDI 对 IQ 的提高会减少这种不利影响，直到达到 IQ 阈值，然后超过该阈值 FDI 会减少收入不平等。同时，制度质量降低了收入不平等，这种有利效应随着 FDI 流入量的增加而加剧。值得注意的是，智商通过政府效率、腐败控制、政治稳定和无暴力/恐怖主义以及法治的内部机制来缓和 FDI 对收入不平等的影响。