A Study On OFDI Reverse Technology Spillover And Industrial Structure Upgrading

In recent years,with the accelerating process of economic globalization,China has vigorously promoted outward foreign direct investment,and the relationship between OFDI and industrial structure upgrading has also attracted the attention of the academic community.However,the academic attention focuses on the comprehensive impact of OFDI on industrial structure upgrading.There is less research,especially empirical research,on the relationship between OFDI reverse technology spillover and industrial structure upgrading,and less analysis of its mechanism of action.In addition,the academic research on the impact of institutional environment on OFDI reverse technology spillover effect started late.Most of the research focuses on the impact of the home country’s institutional environment on the reverse technology spillover effect,while few articles focus on the impact of the home country’s institutional environment.Based on the provincial panel data from 2003 to 2016,this paper makes a detailed analysis of the specific impact of OFDI reverse technology spillover on China’s industrial structure upgrading from the perspective of theoretical mechanism and empirical test.In this paper,Hansen(1999)threshold regression model is introduced to further empirically analyze the non-linear effects of four institutional factors,namely,education support,science and technology support,intellectual property protection and legalization level,on OFDI reverse technology spillover effect.Finally,this paper conducts regression analysis on OFDI reverse technology spillover effect classified according to the home country’s institutional level.The empirical results show that:OFDI reverse technology spillover has always significantly promoted China’s industrial structure upgrading,and the synergy between technological progress and OFDI reverse technology spillover has farther enhanced this positive effect.The impact of education support on OFDI reverse technology spillover effect has a single threshold feature,and OFDI reverse technology spillover effect will increase significantly as the threshold variables exceed the threshold value.The influence of technology support,intellectual property protection and legalization level on OFDI reverse technology spillover effect is characterized by double threshold,and the specific trend is to strengthen first and then weaken,strengthen first and then weaken,and gradually strengthen.Generally speaking,home country’s institutional factors have a significant impact on OFDI reverse technology spillover effect.In areas with low institutional level,the international R&D spillover obtained through OFDI hinders the upgrading of industrial structure.In areas with medium and high institutional level,OFDI reverse technology spillover plays a promotive role,and increases with the increase of institutional level.It verifies that the home country’s institutional factors are the key to the effect of the OFDI reverse technology spillover.Improving the institutional environment is conducive to enhancing OFDI reverse technology spillover effect.