Research On The Influencing Factors Of FDI Spillover Effect Of Service Industry In China

Since the 80 s and 90 s of the 20 th century,with the global adjustment of industrial structure,service industry has been developing rapidly.At the same time,service trade process has been accelerating,and it has become the main field of foreign direct investment.In 2011,amount of money of foreign investment in China's service industry for the first time exceeded the manufacturing sector.This shows that the status of foreign investment in the service industry is becoming more and more important in our country,and can not be ignored.But most of the research on the spillover effect of FDI is still around the manufacturing sector.so increasing the research on service industry spillover effect is very necessary.First of all,this paper describes and analyzes the current situation of China's service industry FDI,indicating that the growth rate of FDI in service industry is significantly faster than in manufacturing industry.Then analyze the mechanism of FDI spillover effect of service industry in detail and the influencing factors are selected.Then,on the basis of theoretical analysis,in order to consolidate the theoretical part,collecting the related data from 2005 to 2014,23provinces(municipalities and autonomous regions)of FDI in service industry,by using stata12.0 analysis software to conduct empirical analysis.In the measurement model,the spillover effect of FDI is estimated by tototal factor productivity with Solow residual method as the dependent variable,using influence factor multiply FDI as independent variables.In order to ensure the reliability of the regression results,the unit root test is used to test the data stability.Then,the Hausman test is conducted,and the results show that the fixed effect model should be chosen,so we use the fixed effect to analyze the influence factors of FDI spillover effect of service industry in China.The regression results show the legal level is not remarkable,but the other results of influencing factors are remarkable.Based on the theoretical analysis and empirical results,we can draw a conclusion that human capital,financial market rate,market openness,the level of service industry development,and capital intensity have positive effect on FDI spillover effect.Finally,in order to better use FDI of service industry,absorb more spillover effect,according to the research results puts forward some countermeasures and suggestions,hoping to make China's service industry develop healthly and provide some help to industrial policy making.In the past,the research of FDI spillover effect mainly focused on manufacturingindustry.In this paper,from the perspective of service industry,research on the influencing factors of FDI spillover effect.on the basis of the FDI spillover effect of manufacturing industry,combined with the characteristics of the service industry,analyzed the transmission mechanism of FDI spillover effect.And select the latest data to do empirical analysis.