| In the 21st century,with the rapid progress of economic globalization and the ever-changing science and technology,the international capital flow itself and its connection with industrial structure adjustment have become one of the important issues that the academic circles pay attention to at present.China's "thirteen five" plan once again stressed that China will strengthen the degree of opening up,build a comprehensive open pattern,strengthen the leading role in scientific and technological innovation,adjust the industrial structure to seek new economic growth point.In 2014,China achieved a total investment of 116 billion US dollars of the industry,plus the third party financing and re-investment,China's foreign investment should be about 140 billion US dollars.This figure is higher than China's utilizing foreign funds of 20 billion US dollars,it means China's actual foreign investment has exceeded the scale of the use of foreign capital,China has become a net exporter of capital.In 2016,China's foreign direct investment reached to a new level,achieving rapid growth for 14 consecutive years,make a new record of 170.11 billion US dollars.Therefore,in the face of China's growing scale of foreign investment,we need to conduct a detailed study.Based on the practical problems of China's economic development and the theoretical background of industrial restructuring and economic growth,this paper focuses on the impact of OFDI to industrial structure optimization,which was divided to two different group:direct investment to developed countries and developing countries to be analyzed.In this paper,the industrial structure of the manufacturing industry is on behalf of the optimization of China's industrial structure,with the adaptation coefficient to measure industrial structure rationalization and the long-term income potential index to measure the height of the industrial structure,and then China's foreign direct investment is divided into developed countries and developing countries,the application of VAR impulse response model and VECM error correction model respectively on the two groups of foreign direct investment and industrial structure rationalization and the relationship between the rationalization of empirical analysis,and direct investment to developed countries can affect the rationalization and height of China's industrial structure and direct investment to developing countries can impact the rationalization of China's industrial structure,but the impact to the height of China's industrial structure is not significant.The analytical framework of this paper is divided into four parts:The first part is the first and the second chapter,which mainly includes the introduction and the theoretical background of this article,explains the writing background and significance,innovation and deficiency of this article,and summarizes the predecessors' research from the perspective of both developed and developing countries,analyzes the impact of foreign direct investment on industrial structure optimization.The second part is the third chapter,which mainly defines the concept of industrial structure optimization,calculates the adaptation coefficient and long-term income potential index,measures the rationalization and heightening of China's industrial structure,and introduces in detail of the development of China's foreign direct investment and the status quo.The third part is the fourth chapter,which is the focus of this paper.The VAR model and VECM model are used to analyze the impact of China's foreign direct investment on industrial structure optimization from direct investment in developed countries and direct investment in developing countries.And the empirical results of the two groups were analyzed and the empirical conclusions were drawn.The fourth part is the fifth chapter,which is the conclusion of the whole paper and the suggestions on the development of China's foreign direct investment based on the optimization of industrial structure. |
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