| Accelerating the adjustment of industrial structure,transforming the mode of economicsincreasing,enhancing the proportion of the third industry output value are the constant theme to promote economic growth in China in recent years.However the process of industrial structure adjustment is not successful.It may because that economic development overly depends on the heavy industry,the excess production capacity of the secondary industry,scant demand,thus the rate of economic growth is slow.It is necessary to seek the mode which transforms the industrial structure and drives economic growth.At the same time,consumer demand also begins to turn around the tertiary industry which includes service industry and high-tech industry with the change of demand structure.Thus,further seeking the path of optimizing domestic industrial structure,leading to turn towards service and high-tech industries are the mainly requirement of China's rapid economic growth.At the beginning of in 2000,Chinese Central Government begins to carry out “going out”strategy,which encourages advantage enterprises launch outward foreign direct investment.Under the policy of “gong out”,although the number of Chinese enterprises of outward foreign direct investment begins to increase,the trend is slow.Due to import and export trade is seriously affected by global financial crisis in 2008,various countries have to implement trade protection policy.As the main country of import and export trade,China suffers many loss in the presence of trade protection policy,and the total amount of foreign trade slowly increased,even has a downward trend.To occupy the international market,outward foreign direct investment under the incentive of "going out" policy is an effective supplement to the decreasing of import and export trade.Thus,,Chinese enterprises can not only further expand international markets and obtain the shortage resources of domestic economic development,but also can transfer domestic overcapacity,promote domestic economic growth,and make up the influence of the decline of import and export trade on the domestic economic growth by outward foreign direct investment.To study the relationship between outward foreign direct investment and industrialstructure upgrading,then the theory on outward foreign direct investment,the theory on industrial structure upgrading,and the relationship of them are summarized in this paper.On the basis of existing researches,this paper analyzes the influence direction of outward foreign direct investment on industrial structure upgrading from two aspects of theory and empirical researches.The influence mechanism of outward foreign direct investment on industrial structure upgrading is presented in this paper.In this aspect of empirical analysis,we use the outward foreign direct investment data and the industry data of various provinces in2004-2013,and select panel regression,dynamic panel regression,spatial econometric analysis method to test the influence direction of outward foreign direct investment on industrial structure upgrading.The results show that the relationship between outward foreign direct investment and industrial structure rationalization index is negative,namely outward foreign direct investment contributes significantly to industry structure upgrading.More important,the influence of outward foreign direct investment on industrial structure upgrading has a significant lag effect.Spatial econometric regression results show that outward foreign direct investment in some area promotes industrial structure upgrading of this area,and also promote industrial structure upgrading of the adjacent area.Dynamic panel regression results show that the relationship between current period industrial structure rationalization index and industrial structure rationalization index of lagging one phase,lagging two phase is positive.It is to say that the improvement of pre-period industrial structure will further promote the adjustment of industrial structure in current period. |
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