The Study On The Reverse Technology Spillover Effect Of China’s OFDI Under The International Investment Agglomeration

With the continuous development of china’s economy, a large number of internationally competitive enterprises are grow sturdily, and now they have the ability to go out the world. The reason why these enterprises are actively going out, on the one hand is to seek and occupy the world market, on the other hand, also hope to get the chance to operate with the foreign company and learn foreign advanced management and technology, which can constantly improve their own level, so as to enhance the international competitiveness further and consolidate their position. For the latter, the enterprise of our country achieved by attracting foreign investment, but now and in the future period of time, our enterprises realize this objective will gradually shift to go out the world, namely OFDI. Though OFDI the enterprise can learn advanced management experience and technology actively. Though OFDI the enterprise can obtain the reverse technological spillover effect, by the process of learning, digesting, absorption and reinnovation they can gradually master the core technology so in the future competition to occupy the dominant position. In this way, the domestic R & D investment and the OFDI can promote and complement each other, which can better improve our current level of technology.The domestic enterprises can be in direct contact with the advanced management experience and technology. The previous analysis stop between the investment country and host country, which consider only the reverse technology spillover effects from host country on China’s enterprises, however, they ignored the global investment agglomeration, the third party can also bring the reverse technology spillover effects. The investment from the third party will have a certain role in promoting the technology of the host country, as this process will make profit to our enterprise, so that the enterprise can get the other part of reverse technology spillover effect. In this paper, the first part called direct spillover effects of direct reverse technol ogy, and the second part called indirect reverse technology spillover effect.But how to obtain the technology spillover is influenced by several factors: The first is the scale of domestic R & D investment, investment in research represent a nation’s technological level, the high level of technical basis can produce more ideal effect in the process of the reverse technology spillover effects bringing by the OFDI. The second is the level of human capital, which is an important index of country’s technology level, usually measured by the average number of years of education; the third is the match situation, there is no doubt that the technical level of many fields in our country still lags behind the advanced level of the world, only when the gap in a certain range, the reverse technology spillover absorption of OFDI will bring more effective and more obvious effects. However, as there is no unified index to measure the technological gap, the focus of this paper is mainly the first and the second factors.Based on the analysis of the above theory, this paper analysis our country obtain direct and indirect reverse technology spillover effect in the investment process using the 1992 to 2012 of China’s investments data to the US, and compare the analysis before and after increasing the R & D investment and human capital factors. Based on these analyses, this paper puts forward policy and recommendations. The empirical analysis shows that the factors of human capital in our country has a promoting effect on the absorption of reverse technology spillover, but the R & D investment hinders the reverse technology spillover effect.