Research On The Reverse Technology Spillover Effect Of Zhejiang Province's Outward Foreign Direct Investment

It is generally believed that the reverse technology spillover effect of OFDI is the technological spillover effect of the country of origin on the country through direct foreign investment to the host country.The existing research theoretically proves that outward foreign direct investment is an effective path for developing countries to achieve technological leapfrogging.However,it is still inconclusive as to the effect of reverse technology spillovers on investments in different stages of development.Taking Zhejiang Province as an example,this paper studies the spillover effect of reverse technology on outward foreign direct investment from the perspective of country differences.The full text is based on the combination of theory and empirical research.In the theoretical research part,the theories and related literatures on the reverse technology spillover effects of foreign direct investment in developing countries are first sorted out;then they are summarized in developed countries(regions)and developing countries.The reverse technology spillover effect mechanism of investment: investment in developed countries(regions)can achieve technological progress in the parent company or home country through feedback on research and development results,reverse technology transfer,etc.;investment in developing countries can be expanded by expanding or lowering the market.The production cost and thus the scale increase the unit product R&D expenses,and finally realize the technology recovery.In the empirical analysis part,firstly,based on the existing C-H model and L-P model,the linear regression model of Zhejiang Province's foreign direct investment reverse technology spillover effect is constructed,and the variables involved in the model are described and measured,according to Zhejiang Province.In countries and regions where outward foreign direct investment flows,considering the availability of data,20 countries and regions were selected and further divided into developed countries(regions)and developing countries,and Zhejiang Province have obtain R&D stocks spilled by outward foreign direct investment was estimated.The main conclusions of the empirical research include: foreign direct investment with country differences have significant different impacts on Zhejiang's technological progress,and Zhejiang's outward foreign direct investment to developed countries(regions)can obtain reverse technology spillovers;The country's outward foreign direct investment cannot obtain reverse technology spillovers.Instead,Zhejiang Province has a positive technical output for these countries.The technology spillover direction is the transition to Zhejiang Province and developing countries.Based on the above results,the following suggestions are made: the investment in developed countries(regions)should be further optimized.On the basis of grasping the direction of industrial development,the choice of target areas and target enterprises should be “accurate”,and the timing of investment should be “grasp".Continuously improve the company's own digestion and absorption capacity to effectively absorb,transform and re-innovate the existing technology level of the target enterprises;Market-seeking and resource-seeking investment in developing countries should focus on expanding market size and access cheap production factors,reduce production costs,increase corporate profits,improve the technology recovery mechanism that promotes technological progress and enhances the strength of enterprises through domestic R&D cost sharing effects.