Research On The Effects Of FDI In Producer Services On Manufacturing Exports In Guangdong

Manufacturing export products represent the manufacturing skill level of a country to a certain extent.The improvement of the quality of these export products is crucial to change the inherent impression of foreign customers that products "made in china" are inferior.For the manufacturing industry,among all foreign direct investment,it is most sensitive to foreign direct investment in the producer service industry(hereinafter referred to as the producer service industry FDI,where FDI is Foreign Direct Investment).Guangdong province is a strong export-oriented province in manufacturing.With the continuous development of Guangdong-Hong Kong-Macao Greater Bay Area,people focused their attention on Guangdong province once again.With its excellent geographical location and relying on Hong Kong as a "world window",it has been known as "a strong foreign trade province".Strong processing and manufacturing capabilities have made manufacturing exports a more prominent contribution to its GDP.Although the total export value of its manufacturing industry has increased every year,the growth rate has dropped a lot compared with the previous years.Therefore,this paper further explores the relationship between FDI in producer service industries and manufacturing exports and the transmission mechanism between them by studying the effects of FDI in various producer service industries on their manufacturing exports in Guangdong.The research on FDI in producer service industry is conducive to the introduction of high-quality foreign capital in a more targeted way,and better integrating the services it provides into manufacturing export enterprises,so that more chinese products will win the recognition of foreign consumers.This paper selects the data of FDI in producer service industries and manufacturing exports of Guangdong from year 2002 to 2017,and carries out the research on the effects of FDI in producer service industries(including computer and information services and software industry,banking business,real estate service industry,tenancy and business industry,scientific research,technology services and geological prospecting industry)on manufacturing exports(including traditional manufacturing and strategic emerging manufacturing industries)in Guangdong province from an empirical perspective.The effect research is mainly carried out from two aspects:Firstly,the relationship between these two is analyzed by unit root test,cointegration test and Granger causality test.Secondly: A two-step method is used to estimate the mechanism by which FDI in producer service industries affects manufacturing exports in Guangdong through various transfer variables.The empirical results show that: First of all,FDI in producer service industries has both positive and negative effects on manufacturing exports in Guangdong.Secondly,for the transmission mechanism between these two,the conclusions are as follows:(1)The same kind of producer service industry FDI can influence the manufacturing export through different transfer variables,such as scientific research,technology services and geological prospecting industry FDI.(2)The same kind of producer service industry FDI has different effects on traditional manufacturing and strategic emerging manufacturing exports through the same kind of transfer variable,such as computer and information services and software industry FDI.(3)Not all producer service industry FDI can influence manufacturing exports by transfer variables.