The Influences On Regional Technology Innovation From OFDI's Reverse Technology Spillovers

With the further development of Economic Globalization,Outward Foreign Direct Investment(OFDI)has become one of the important ways of global capital flow,playing an important role in a country's economic structure and international competitiveness.The reverse technology spillover effect of OFDI is a relatively new topic in World Economics,and it is getting more and more attention from scholars at home and abroad.However,the research on the reverse technology spillover effect of OFDI is later than international trade and Foreign Direct Investment(FDI).The research on this topic has not yet formed a complete research system,but also provides room for further research.Regarding the impact of OFDI on domestic innovation capabilities in China,domestic research results are not consistent.In view of this,this paper explores the reverse technology spillover effect of OFDI based on provincial panel data.Firstly,this paper reviews the literature on the reverse technology spillover effect of OFDI at home and abroad,mainly from the existence and influence factors of OFDI's reverse technology spillover effect,and comparing with other factors that affect innovation ability.Secondly,it analyzes the development status of OFDI from three aspects: scale analysis,geographical distribution and industry distribution.And then it analyzes the development status of technological innovation from four perspectives:R&D expenditure,R&D personnel number,R&D results and international comparison.Thirdly,using the OFDI data of 31 provinces from 2004 to 2014,and drawing on the L-P model,the empirical results show that OFDI promotes the improvement of innovation capability,but its impact is less than intellectual property protection,R&D human capital,and FDI technology spillovers.Moreover,the reverse technology spillover effect of OFDI has strong sensitivity to the degree of financial development,and this situation is particularly significant in the central region.Finally,the empirical results show that the impact of OFDI on innovation capability has changed significantly from suppression to promotion before and after the financial crisis.Based on the empirical results,the paper proposes policy recommendations to promote the reverse technology spillover effect of OFDI.