Research On The Reverse Technology Spillover Effect Of OFDI In China's Service Industry

Technological progress is the source of stable economic growth.Under the open economic system,the technological progress of a country is dependent on the R & D input of the country,and it is particularly dependent on the international technology spillover.Under the trend of economic globalization,China's opening to the outside world is accelerating,especially after the implementation of the WTO and the "going out" strategy,China's foreign direct investment(OFDI)has been growing rapidly.At the same time,the global industrial structure has changed from the traditional industrial oriented economy to the service dominated economy step by step,and the international direct investment in the service industry has also developed rapidly.Under the dual impetus of domestic and international factors,China's service industry OFDI is increasing year by year,no matter in flow volume or stock.Whether the fast growing OFDI of service industry can obtain international technology spillover and whether it can drive the growth of TFP in the industry itself is of great significance to improving the service industry development system and optimizing the service industry development structure.This paper is based on the traditional theory of foreign direct investment and the framework of international technology spillover,first of all,The present situation of OFDI in China's service industry is elaborated,and its characteristics and existing problems are analyzed.Then,the mechanism and related factors of OFDI reverse technology spillover in service industry are analyzed theoretically.Secondly,the existence of OFDI reverse technology spillover effect in the service industry of our country is tested,and the technology intensive and non technology analysis is concretely analyzed.At the same time,it calculates the threshold value of industrial human capital,R & D input intensity,industry development level and financial development level which leads to positive reverse technology spillover.The results show that:(1)from the overall service industry,the effect of reverse technology spillover obtained through the OFDI channel is not significant,and OFDI can not promote the length of TFP in service industry.(2)from the industry classification,the reverse technology spillover effect of the technology intensive service industry OFDI is significant,but not the technology intensive service industry OFDI.There is no positive reverse technology spillover;(3)the reverse technology spillover of service industry OFDI comes from the threshold characteristics of the industry human capital,the intensity of R & D input,the level of industry development and the level of financial development.When the factors of absorptive capacity are lower than the threshold value,the reverse technology spillover of OFDI is hindered,and the reverse technology spillover is hindered.When each factor crosses the corresponding threshold,it significantly promotes the reverse technology spillover of OFDI.Comprehensive research conclusions,put forward relevant policy recommendations,in order to improve the reverse technology spillover generated by OFDI industry,and promote the development of China's service industry.