Study On The Influence Factors Of China's OFDI Reverse Technology Spillover Effect

China is in the new normal stage of economic development,with the economy maintaining medium-high growth.Supply-side reform keeps moving.Industrial structure is upgrading.Backward production capacity is eliminated.The government actively implement the strategy of innovation driven development.Science and technology innovation as the core driving force,improving the innovation investment and increasing the input and output performance.Technological progress plays an important part in industry development and economic growth.Since 2013,China's foreign direct investment has started to grow rapidly.In 2014,it became a net exporter of capital and a second largest investment country,and began to enter the new trend of capital globalization.OFDI is an important way for enterprises to rapidly improve their scientific and technological level.Through technology diffusion,it promotes the progress of China's overall scientific and technological level,improve production efficiency and promote economic development.The purpose of this paper is to study whether the OFDI reverse technology spillover is effective.It also explores the mechanism and influence of human capital,policy support and degree of opening to the outside world.On this basis,this paper compares the effects of reverse technology spillovers in the host countries of different technology levels,and compares the effects of the three elements in the host countries of different technology levels.Therefore,this paper summarizes the research results of OFDI reverse technology spillover,and introduces the development history and current situation of OFDI in China.In theory part,the OFDI reverse spillover mechanism is analyzed.The mechanism of macroscopical influencing factors on absorption capacity is analyzed,and the theory of absorptive capacity is expanded.In empirical aspect,this article uses the 2003 to 2015 data from 20 OFDI host countries and domestic data,building international technology spillover effect factors based on L-P model.Through the fixed effects regression method and random effect,using Eviews software to make the empirical research.The results show that foreign direct investment can effectively promote the progress of China's technology.Human capital,policy support and degree of opening to the outside world all have a significant effect on OFDI reverse technology spillover effect.China has the best reverse effect on the spillover technology of the third-tier developing country OFDI.Second is the advanced country with the top level technology.The reverse technology spillover effect on the secondary developed countries is slightly worse.The absorption effect of human capital and policy support-to the high technology level countries are less than to the middle and low technology level of the countries.China's openness to the second-tier countries' technology absorption effect is better than the first and third echelon countries' technology absorption effect.Therefore,China needs to further enhance the level of human capital,optimize the policy support,perfect market system,expanding opening up,improve the absorptive capacity of the advanced technology in our country,promote the OFDI reverse technological overflow effect.