中文摘要：

文章基于我国当前反腐倡廉弘扬正气的社会背景．对腐败影响资本跨国流动的理论机理进行阐释，通过搜集整理58个代表性国家（地区）2003—2013年的面板数据，使用差分GMM和系统GMM两种估计方法，对腐败、腐败距离与外资流入之间的关系进行实证研究。认为腐败和外资流入之间的关系因国家类型存在差异，发达国家较高的政府清廉度可以降低腐败交易成本，对我国资本具有较大引力，发展中国家的制度缺陷可以为投资者开拓当地市场提供机会：腐败距离对资本的跨国流动具有阻碍作用。研究结论不仅可以为我国跨国公司的投资决策提供理论依据．而且可以为当前的反腐倡廉提供决策参考。

英文摘要：

Based on the social background of current anti-corruption, the paper discusses the mechanism of the impact of corruption on cross-border capital flows. By collecting 58 representative countries or regions＇ 2003-2013 panel data and using the two estimation methods of differential GMM and system GMM, it empirically researches the relationship between corruption, corruption distance and the inflow of foreign capital. It argues that the relationship between corruption and the inflow of foreign countries differs due to the type of countries, and the cleaner government of developed countries can reduce the transaction cost of corruption, which has a great attraction to our capital, and the institutional defect of developing countries can also provide investors with chances of developing the local market; corruption distance hinders the flow of capital. The conclusion can not only provide theoretical foundation for the investment decision of the MNCs, but also offer references for the current anti-corruption.