The Influence Of Technical Gap,R&D Intensity On OFDI Reverse Technology Spillover Effect

In the era of globalization,the development of technology not only depends on the domestic technical elements,but also on the advanced technology achieved by the Foreign Direct Investment(FDI)and Outward Foreign Direct Investment(OFDI),which improves domestic productivity.The phenomenon which Outward Foreign Direct Investment helps to stimulate technological progress is called the reverse technology spillover effect of OFDI.Domestic and foreign scholars launched a deep discussion about the effect of domestic and international market for home technology progress,but there is still a lot of controversy on the existence of the reverse technology spillover effect of OFDI in China,the main reasons are as follows:First,although the scholars have realized that the reverse technology spillover effect of OFDI in China has regional differences,they didn't dig the reasons deeply from the perspective of absorptive capacity;Second,they emphasis too much on the empirical analysis of reverse technology spillover effect,the formation mechanism of reverse technology spillover effect is neglected,empirical analysis without the theoretical guidance is meaningless.In the theoretical mechanism section,this paper carries on the formation mechanism of reverse technology spillover effect of OFDI,based on the two different entry modes of foreign direct investment,this paper divides the process of reverse technology spillover effect of foreign direct investment into four stages.In the four stage,The parent firm absorbs the advanced technology of the host country mainly through five factors,such as the Overseas R&D factor absorption mechanism,the internal integration mechanism,the technical achievement feedback mechanism,the talent flow mechanism,the profit return mechanism.So that the absorption capacity of home country determines the size of the reverse technology spillover effects,starting from the five mechanism,this paper argues that technology gap and R&D strength impact the absorption ability of home country,moreover,this effect is nonlinear and may have threshold effect.In the empirical research section,according to the conclusion of theoretical research,this paper constructs a model of the existence of reverse technology spillover effect of OFDI by introducing technology gap and R&D strength as cross terms,empirical result shows that reverse technology spillover effect of OFDI in China is existed indeed,but linear effects are not significant,judging from this,there may be a threshold effect mentioned in the theory.On the basis of the first model,two threshold models are constructed,threshold variables are technology gap and R&D strength,empirical result shows that there is a double threshold in the effect of technology gap on the absorption of the home country,while a single threshold in the effect of R&D strength on the absorption of the home country,which consistent with the theoretical study.According to the theoretical and empirical conclusions,technology gap is the most important factor influencing the reverse spillover effect of OFDI.When speed up the implementation of the strategy of outward direct investment,we should select the investment destination reasonably,tilt to destination and field which the technology gap is moderate,at the same time,we must pay attention to the structural adjustment of R&D investment and development of innovation talent gradient construction.