Research On The Interactive Development Of China's Outward Foreign Direct Investment And Export Trade

OFDI and export trade are two important ways for China to integrate ito the international division of labor system,and also two necessary paths for enterprises to integrate into the tide of economic globalization.At the same time,there is an obvious mutual influence between them.In recent years,the growth rate of China's export trade has gradually slowed down,but OFDI has continued to grow at a high speed.How to futher deepen the interactive development of them to promote sustained growth of the macro economy?Productivity is the fundamental factor affecting enterprises'export or OFDI decision-making.How will its growth affect the interactive development of OFDI and export trade?Further study of these issues will have important theoretical and practical significance for the adjustment and implementation of China's "going out" strategy.Firstly,this paper combs the relevant representative literature on the three themes of "The basic theory of the relationship between OFDI and export trade","the research status of OFDI and export trade relations" and"the relationship between OFDI,export trade and technological progress".On this basis,the paper puts OFDI,export trade and technological progress under the same framework,focusing on the operation mechanism of the interactive development of OFDI and export trade(OFEID),and the impact of technological progress on OFEID.In the theoretical research,based on the definition of OFEID,this paper expounds the four characteristics of OFEID,and reveals the operational mechanism of OFEID by analyzing the dynamic mechanism,integration mechanism and feedback mechanism in the OFEID system.Subsequently,and further discusses how technological progress affects OFEID.In the empirical study,based on China's inter-provincial panel data from 2004 to 2016,this paper uses the panel vector autoregressive(PVAR)model to verify the interaction between OFDI and export,and uses "the capacity coupling system model"to quantifying the interactive development level of OFDI and export.On this basis,through using the panel data to do quantitative analysis,this paper further examines the impact of technological advancement and different technological progress paths on OFEID.The empirical results of this paper show that:(1)there is indeed an interaction between OFDI and export;(2)technological progress has a negative impact on OFEID;(3)different technological progress paths have different effects on OFEID.Independent R&D and technology import have a positive impact on OFEID,while imitation innovation has a positive impact on OFEID.However,the negative impact of independent R&D and technology import is greater than the positive impact of imitative innovation.Therefore,the overall impact of technological progress influencing on OFEID is still negative.Ultimately,the article summarizes the conclusion of the research,and proposes relevant policy recommendations based on the research results,in order to provide a certain reference for the adjustment and implementation of China's trade and investment policy and the "going out" strategy.