Study On The Reverse Technology Spillover Effect Of OFDI In Zhejiang Province

As China implements the “Going Global” strategy,Chin's OFDI experiences breakthrough development.While China faces huge pressure of economic transition,companies in Zhejiang must change the industry structure,and focus on developing the R&D capacity and creating their own core-competence.And OFDI is one of the most important technology spillover channels through country to country,so find out the reverse technology spillover effect of Zhejiang Province' OFDI,has very important meaning to Zhejiang's future development.Firstly,this essay analyzes about the theory of OFDI reverse technology spillover effect.The main theories of OFDI are sorted out from two aspects of developed countries and developing countries.And from three angles of investment motivation,investment condition and reverse spillover mechanism to analyze the OFDI reverse technology spillover effect theories.Secondly,this essay analyzes the current situation of OFDI of Zhejiang province,which includes the investment scale,investment location,industry structure,investment subjects,investment form,and investment motivation.And found that Zhejiang's OFDI scale continues to expand these years,and mainly invest in developed countries(regions),the proportion of third industry is increasing,and the main investment enterprise is private company,besides,currency is the main investment form,and market seeking is the main motivation.Thirdly,by adopting the C-H international R&D spillover regression,get a regression of Zhejiang's OFDI reverse technology spillover effect.From the empirical test result found that Zhejiang's OFDI has reverse technology spillover effect,but its own R&D capital can bring greater effect than through the OFDI channel.By researching and analyzing,this essay believe that the un-mature environment of China's foreign direct investment,the un-abundant structure of Zhejiang,and the limited capacity of private enterprises are the main reason to the regression result.Finally,based on the analysis of Zhejiang's OFDI situation and the result of Zhejiang's OFDI reverse technology spillover,some reasonable countermeasures and suggestions are given by this essay.