Research On The Reverse Technology Spillover Effects Of OFDI Based On The Absorptive Capacity Perspective

New economic growth theory suggests that a country's?region's? economic growth depends on endogenous technical progress,in open economy era,both domestic R&D capital and overseas R&D capital can exert influence on endogenous technical progress through the mechanism of FDI and OFDI productivity spillover.More and more studies show that "market for technology" policy effect has been declining.In other words,the productivity spillover effect through FDI channels becomes more and more limited.However,OFDI can not only break through the barriers to overseas core technology,but also a variety of barriers to the host country.Direct contact with overseas advanced technology can enhance firms' research and development capabilities.Therefore,it is important to explore the role of OFDI reverse technology spillover.This paper expands,according to the following structure and order "Analysis Theory-Empirical Analysis-Policy Recommendations" based on the traditional research methods.First,theoretical analysis of the mechanism of Chinese OFDI reverse technology spillover effect is carried out based on previous studies.Second,empirical analysis for the data during 2002-2014 is conducted on the basis of theoretical analysis.The results suggests that reverse technology spillover effect exists mainly in the host countries which have higher technical level than that in China,and the firms from eastern region of China can absorb OFDI technology more efficiently.In general,Chinese OFDI reverse technology spillover effect has been very obvious.This study employs threshold analysis at the industry level to measure the threshold value of economic development,human capital investment,R&D capital investment and absorption capacity.The results shows that,GDP,per capita GDP and human capital investment is in the presence of a single threshold,R&D expenditure,R&D intensity and human capital inputs have double strength threshold,there is no existence of multiple variable threshold.The reverse technology spillover effect increases only when the absorption capacity exceeds the threshold value,the effect will be significantly increased.In general,most of the industries have crossed the first threshold,but only scientific research and technical services,software and information services industry can cross both the second threshold,while most industries have not yet crossed the threshold of a second.Human capital investment is in significant at 10% level.Finally,based on the above empirical analysis,this study puts forward some recommendations to further strengthen China's OFDI reverse technology spillover effect.Compared with the existing research,this article has carried on the exploration in the following several aspects.(1)In the sample selection,the investment host stratification,select the research significance of investment targets as a follow-up object,which greatly improved the accuracy of the results,and further enriched the existing theory the study.(2)The research on absorptive capacity is further extended to the industry level,and analyzed the performance of several key indicators at the industry l evel.Based on the research results,this paper puts forward the countermeasure s to promote the cross-border M&A,and how to absorb the M&A in China,which provides a new way for Chinese enterprises to enhance their global com petitiveness.(3)In the empirical study,the LP model is used for reference,and the data of different investment host countries and different regions in China are tested.And the threshold analysis method is used to analyze the data of the industry level from the industry perspective,from the industry perspective on the factors of China's FDI reverse technological spillover effect of the internal mechanism.