The Intrinsic Mechanism Of China's OFDI Reverse Technology Spillover

With the rapid development of OFDI in China,the issue of OFFD reverse technology in China has also become more and more of concern.Based on the existing researches,this paper further studies the internal mechanism of China's OFDI reverse technology spillover.This paper believes that the mechanism of China's OFDI reverse technology spillover includes two major mechanisms,ie,the dynamic mechanism and the operational mechanism.The competition mechanism and the demonstration mechanism are the logical foundations of the dynamic mechanism.This paper studies the competition mechanism and demonstration mechanism of China's OFDI reverse technology spillover on the basis of innovation and imitation theory.The study believes that China's OFDI reverse spillover technology will first of all bring excess profits to Chinese multinationals in the domestic market,thereby attracting other companies to join the technology market through a competition mechanism.The technology eventually achieves an overflow through a demonstration mechanism.The "Government—University—Industry—Research " and the "Model 2" mechanisms are two typical forms of operational mechanisms.This paper is based on the analytical framework of Government—University—Industry—Research and the British scholar Michael Gibbons' model 2 theory.The mechanism was studied.The study believes that the Government—University—Industry—Research system is a university-based research and development division and collaboration system.Although it is conducive to China's OFDI reverse technology spillovers,there are also natural defects that result in higher transaction costs,and that the university's knowledge production and the company's knowledge needs are difficult to fully dock.In the mode 2 mechanism,university-based highly academic research activities will become more market-oriented,which will help improve the company's independent research and development level and establish a more efficient R & D market system,which is conducive to China's OFDI reverse technology spillover.In the empirical part,this paper uses the LP model as the basis,patent volume as the explanatory variable,human capital and R&D capital as explanatory variables,and financial development level,and graduate student scale as interaction variables.China's OFDI reverse technology spillover effect was tested.The empirical study finds that China's OFDIreverse technology spillover effect exists,graduate student scale have promoted China's OFDI reverse technology spillover,and financial development level have suppressed China's OFDI reverse technology spillover.