| Since Chinese government has implemented the "going out strategy",the scale of outward foreign direct investment expands year by year in China.And it develops so rapidly that has gained remarkable achievements from all over the world.In 2014,Chinese OFDI exceeds hundreds of billions of dollars firstly.The data of OFDI hits a record high of $123.12 billion,ranked third in the world for three consecutive years.FDI and OFDI close to balance for the first time.The expansion of outward investment gives rise to the increase of the academic researches on OFDI,especially the motivation and location choice.But relatively fewer of them study dual margins and reverse technology spillover of OFDI.Therefore,under the premise of theoretical and empirical analysis,this paper attempts to analyze the motivation of dual margins of OFDI and the problem of reverse technology spillover,which has particular practical and theoretical significance.First of all,the paper summarizes the domestic and foreign literature of dual margins and reverse technology spillover of OFDI.We find that domestic and foreign scholars’ researches mainly focus on the influence factors and the promotive effects.In the empirical researches and analysis of the relevant problems,the points and conclusions have not reached a consensus.Only a few studies analyze the reverse technology spillover effect of OFDI in dual margin.In part two,the theories of OFDI about developed and developing countries are explored.During the process of theory discription,the paper analyzes the core idea and summarizes their applicability of Chinese practice and theoretical guidance.Besides,combined with the status of Chinese multinational enterprises,the paper analyzes the application of the theories of OFDI in China.Then this paper uses many charts and datas to analyze the current status of Chinese OFDI and technological progress.On the issue of motivation,we focus on the investment stage and characteristics,including location and industry.We find Chinese OFDI is mainly based on the motivation of market-seeking and resource-seeking.With the guidance of the Chinese government,it shifts to asset-seeking motivation gradually.On technological progress,the paper uses the data of R&D investment,research staff and S&D outputs to see that our country pays more attention on R&D and innovation.The overall level of technology in China is rising,but it still has problems in absorption.To understand the specific situation of Chinese outward investment more intuitively,in the empirical part we use Chinese investment datas in 76 countries during the year 2003-2013,constructing the intensive margin model and extended marginal choice model according to Buckley et al.and Helpman et al.to get a quantitative analysis of Chinese OFDI motives.Then we construct the model of technology spillover,in which dual OFDI is introduced as the core variables.By observing the sign and significance of OFDI variables,we get a basic estimate on the reverse technology spillover effect of China’s OFDI dual margins.The results show that:the intensive margin of OFDI is mainly based on market-seeking and resource-seeking motivation,the extensive margin of OFDI is more likely to be market-seeking and asset-seeking motivation.And,reverse technology spillover effect of the intensive and extensive OFDI is significant.But it is not sensitive,which is mainly due to the unreasonable investment structure and the lack of talents.Finally,we give the conclusion and provide relevant policy suggestions.As for the innovation of this text,first,it analyzes the reverse technology spillover effect based on dual margins,which is studied seldom until now.Second,this paper adopts the combination of qualitative analysis and quantitative analysis.It realizes the theoretical and empirical analysis of the research problem.Although the angle of the thesis is new,it still has many deficiencies by the objective constraints,such as:The research remains at the national level.And the thesis does not go into the Enterprise level and industry level. |
