A Study Of Reverse Technology Spillover Effects From China's OFDI Based On The New Economic Geograghy

In recent years,China's outward foreign direct investment(OFDI)has maintained its strong development growth.The World Investment Report 2017 UNCTAD showed that China's outward FDI flows and stocks in 2016 accounted for 13.5%and 5.2%of the global total respectively.In terms of outward FDI flows,China continued to rank second among all countries(regions).In terms of stocks of OFDI,China ranked 6~thh from8~thh in 2015.At the same time,in respond to a series of serious problems,including shrinking of“three demands”,decline of industrial production and grievous over capacity,our government timely lauched“supply-side reform”.And one of its keys is raising the level of the country's science and technology so as to transform China from a manufacturer of quantity to one of quality.Many scholars believe that in order to promote the level of science and technology of a country,expect relying on its own strong research capabilities and the technological spillover through FDI,it is also necessary to take full advantage of OFDI,namely reserve technology spillover from outward FDI.Firstly,this paper systematically reviews existing literatures and theories,extracts theoretical context of reserve technological spillover from OFDI,and closely describes the current development of OFDI in China.Secondly,based on the thoughts of New Economic Geography and involving spatial factors,this paper constructs two mechanisms of reserve technology spillover form OFDI,depicted by phase diagram and chain figure.Finally,we collect relevant data and empirically estimates the existence,spatial aggregation and other issues of reserve technology spillover from China's OFDI by the emerging spatial econometrics.According to the above theoretical and empirical analysis,this paper puts forward some relevant suggestions:actively encourage technology-driven OFDI,continuously expand our R&D capabilities,optimize personnel cultivating system,provide preferential financial incentives and prudently improve the level of economic openness.