An Empirical Study Of The Impact Of Technology Seeking ODI On The Quality Of China's Economic Growth

Nowadays,economic integration is an important trend in the development of the global economy.With the acceleration of China's participation in the process of economic globalization and the requirement to build a new pattern of full open,the government is actively engaged in international cooperation.The pace of “going global” is steadily advancing,and the scale of foreign direct investment is showing rapid growth.By the end of 2016,China had established 37,200 foreign direct investment enterprises,and the stock of foreign direct investment reached 1.36 trillion U.S.dollars,accounting for 5.2% of the world's total share,which has boosted domestic technological progress and economic transformation.However,our government has vigorously promoted opening to the global market.The goal is not only to promote short-term economic growth,but also to promote the long-term development of economic growth efficiency,economic growth stability,and economic growth sustainability.In this context,studying the relationship between outward direct investment and quality economic growth has more important theoretical and practical significance.Among them,as more and more research shows that technology seeking is an important factor in determining foreign direct investment,this article will focus on exploring the inherent relationship between China's rapidly growing technology-seeking outward direct investment and the new normal economy that has turned to quality development.The connection,on the one hand,is conducive to enriching the research content of the technology-seeking ODI theory;on the other hand,it provides a decision-making reference for the government to seek new ways of outward foreign direct investment under the highquality development stage.The theoretical model,implementation mechanism and influencing factors of technology-seeking ODI's impact on the quality of economic growth are the cornerstones of this paper.Therefore,this article begins with the theoretical aspects,and then sorts out relevant researches on ODI theory and economic growth quality theory,and explains the impact of ODI on the quality of economic growth from the perspective of dualistic features and IDP theory.Furtherly,this paper analyzes the current situation of the development of technology-seeking ODI in China,based on the development background,current situation analysis,influencing factors,etc.Subsequently,on the basis of theoretical research,this paper measures China's economic growth quality evaluation system by constructing an indicator system,and draws on the international R&D spillover regression method(C-H model)and investment spillover model(L-P model).Besides,productivity factors are taken into account to build benchmark models and threshold models,in order to implement indepth study about how changes in technology-seeking ODI scale affect China's overall and sub-regional economic growth quality.On the basis of the above theoretical mechanisms,model deductions,and empirical tests,the following conclusions are obtained.Firstly,the scale-up of technology-seeking ODI is conducive to promoting the construction of a “qualityoriented” economy in China.Secondly,ODI scale affects China,which has regional heterogeneity and time difference in the quality of economic growth.Finally,productivity has a “dual threshold” feature in the process of influencing ODI to boost economic quality.Based on the above research conclusions,in order to better exert the leading role of technology-seeking ODI for quality-based economic growth,this article has also formulated corresponding policies for domestic enterprises to better “go global”.First,the government should play a guiding role in the process of promoting ODI.The second is to promote the sustainable development of local ODI in line with local conditions.The third is to enhance enterprise ODI capabilities and encourage technology-seeking ODI.