Government's Behaviors,Efficiency And Outward Foreign Direct Investment Reverse Technology Spillover

In order to expand investment channels and make full use of international investment market,Chinese government has vigorously implemented the strategy of"going out".Up to now,the scale of Chinese OFDI flows has ranked third in the world,and the stock size ranks second.It has become a main part of global OFDI.Behind the large amount of OFDI,there are huge foreign currency reserves and gradually looser foreign exchange management system and government strategies that constantly drive enterprises to operate transnationally.On the other hand,China's long-term low government efficiency has become a major "weakness" that hinders China's rapid economic development and industrial restructuring.Therefore,the government's operating mechanism is also in a new stage of simplification and functional transformation.Based on the current situations,this paper focuses on how the participation and administrative efficiency of Chinese government,which is the designer and executor of the policy,will affect the OFDI and its technology spillover.Firstly,after briefly introducing the topic,this paper reviews fomer researches.At the same time,it analyzes the process and mechanism of the impact of government's behavior and administrative efficiency on China's OFDI.It also explores and explains the internal relationship between the increasing OFDI and the government's decentralization action.Then,this paper uses panel data of 29 provinces in China from 2003 to 2016 to empirically test the reverse technology spillover effect of OFDI.According to the fixed effect model,government corruption,administrative scale,ownership concentration,education support,intellectual property protection,science and technology support and comprehensive efficiency index calculated by DEA-Malmquist are added to reflect government efficiency.The linear relationship between government behavior and administrative efficiency and the reverse technology spillover effect of China's OFDI was empirically examined by testing the seven indicators and their multipliers through regression model.Finally,this paper uses Hansen threshold regression model to empirically analyze the threshold characteristics of the impact of government behavior and administrative efficiency on Reverse Technology Spillover of China's OFDI.The empirical results show that OFDI has a significant positive effect on improving China's total factor productivity.At the same time,the concentration of government ownership,education support,intellectual property protection,science and technology support and comprehensive government efficiency all have important effects on reverse technology spillover effect of OFDI,and some indicators show different threshold characteristics.The above empirical results reflect the impact of government behavior and administrative efficiency on the reverse spillover effect of OFDI,and also provide reference for governments in the process of simplification and decentralization.