The Impact Of Institutional Quality Of Countries Along "the Belt And Road" On Reverse Technology Spillovers Of China's OFDI

Pursuing Economic Development has always been the eternal theme of human society,and the improvement of technology is a crucial factor in economic development.Then How to improve technological has become a hot topic for scholars to study.In recent years,with the deepening of the strategy of "going out",China's foreign direct investment is in a period of rapid development,More and more attention has been paid to obtain reverse technology spillovers through OFDI and then to promote China's technological progress.At the same time,since President Xi put forward the strategic concept of " the belt and road " in 2013,China's total investment in the countries along the " the belt and road " has increased year by year.Under such circumstances,it is particularly important to study the impact of the institutional quality of the countries along the " the belt and road " on the reverse technology spillover effect of China's outward foreign direct investment.Based on the theoretical analysis of institutional quality on China's OFDI reverse technology spillover effect,This paper selects the data of 40 countries along the " the belt and road " from2003 to 2016 to empirically analyze the impact of institutional quality of countries along the "the belt and road " on China's outward foreign direct investment reverse technology spillover effect.This paper measures the institutional quality of the host country from four aspects of politics,economy,law and culture.The empirical results show that the quality of the host country's political and legal institutional system is negatively related to the reverse technology spillover effect of outward foreign direct investment.The superior quality of economic system can promote the reverse technology spillover effect of outward foreign direct investment.At the same time,the smaller cultural difference between the host country and China,the more beneficial it is for China to obtain reverse technology spillover effect.Based on these results,this paper gives some suggestions from the perspectives of the state and enterprises.