China's Research On Technology Spillover Effects Of Direct Investment In Countries Along The Belt And Road

As an new blueprint of China's economy,"One Belt and One Road" strategy conforms to the goal of mutual benefit.It has a great significance to cooperate and flourish together.However,the"B&R" strategy,as the focus of current global economy,it also meets some problem.Whether China's OFDI has produce benefits to countries along the Silk-road or not?Answering this question is not only contributing to create healthy environment for Chinese enterprises' OFDI,but also can effectively conduct the practice of China's OFDI.As mentioned above,this study carries out some work as follows.Firstly,this paper analysis the current situation of China's OFDI in Silk-road.Secondly,by using Solow residual method to measure and calculate the total factor productivity of some countries along in the Silk-road.Finally,using 46 countries,data and China's OFDI data from 2005 to 2014,we set up the empirical study that technology spillover effect of China's OFDI to host country's economy.In the empirical study,by using panel data,we build the fixed effect model and random effect model.The empirical study can be divided into three parts.The first part,we discuss the technology spillover effect of China's OFDI to 46 countries which from the silk-road.The second part,we discuss the technology spillover effect of China's OFDI to "One belt" are,"One road" area and“'B&R' intersection" area,as well as "Southeast Asia" area,"South Asia" area,etc.The last part,we discuss the technology spillover effect of China's OFDI to" developing economies",developed economies" and "transitional economies".Based on the above research,we find some crucial results.First of all,China's OFDI can cause a short-term negative technology spillover effect and long-term positive technology spillover effect in silk-road,the long-term positive technology spillover effect is more notable.In the next place,China's OFDI can cause a short-term negative technology spillover effect and a long-term positive technology spillover effect in "One road" area and "One belt" area,including"Southeast Asia" area and "South Asia" area.However,technology spillover effect isn't notable in"B&R" intersection" area,for instance,"Central and Eastern Europe" area.It's non-significant that China's OFDI in "West Asia and North Africa" area can cause a short-term negative technology spillover effect and long-term positive technology spillover effect.Lastly,China's OFDI can cause a short-term negative technology spillover effect and long-term positive technology spillover effect in "developing economies" and "transitional economies".Base on the result of theoretical and empirical analysis,this article proposes three advices for China's OFDI in silk-road.Strengthen the guidance of public opinion and the positive conduct propaganda of China's OFDI,promote the mutual identity and trust.China's OFDI should enhance operating efficiency and the ability of competitiveness;Extend the industrial chain,improve the influence of China's OFDI;Strengthen infrastructure construction,and enhance the convenient of investment in Silk-road.Through the research on technology spillover effect of China's OFDI in silk-road,not only can we reshape the image of China's OFDI,enhance mutual identity and trust,but also can effectively guide China's OFDI along in the Silk-road.