Analysis Of The Influence Of Foreign Direct Investment On The Deviation Of China's Manufacturing Technology

Technology is an important engine of economic growth.Both neoclassical growth models and endogenous growth models see technology as the driving force for economic growth.There are two main ways to improve the level of technology:independent innovation and technology introduction.Foreign direct investment is one of the important means of technology introduction.Frontier research studies the spillover effects of foreign direct investment on host technology from the perspective of total factor productivity,ignoring the bias of technological progress.Based on the bias of technological progress,this paper analyzes the impact of foreign direct investment on the technological bias of China's manufacturing industry,and deeply studies the impact of different foreign direct investment spillover paths on technological progress bias.Firstly,this paper constructs the CES production function and uses the three-equation standardization system to measure the technological progress bias index of 27 sub-sectors of China's manufacturing industry from 2001 to 2016.The results of technological progress bias measurement are consistent with the frontier research: China's manufacturing technology advances toward capital,showing the characteristics of capital bias.At the same time,this paper analyzes the characteristics of foreign direct investment in China from three perspectives: the actual use of foreign capital,the structure of direct investment in China,and the operation status of foreign-funded enterprises in China.Secondly,this paper uses the panel data of 27 industries in China's manufacturing industry to study the impact of foreign direct investment on the technological process bias of manufacturing industry by using fixed effect model,random effect model,FGLS model and panel correction standard error model.The empirical results show that foreign direct investment has a significant positive impact on China's manufacturing technology development bias index-with the increase inforeign direct investment,the capital bias of manufacturing technology advancement is enhanced.Human capital and independent R&D investment as a measure of independent technological innovation have a negative impact on the manufacturing technology bias bias index.In addition,the capital labor factor compensation ratio has a significant positive impact on the manufacturing technology progress bias index,and the export dependence,technology gap and technological progress bias index change in reverse.The interaction of various factors ultimately makes the bias of the technological advancement of China's manufacturing industry capital-oriented.Finally,it examines the impact of foreign direct investment level,forward and backward spillover paths on technological progress bias,and uses the threshold effect model to use human capital level as a threshold variable to test the technological spillover path of different foreign direct investment technologies.The nonlinear effect of bias.The empirical results show that the technology spillover path has a significant nonlinear impact on the direction and intensity of manufacturing technology bias.When the level of human capital exceeds the threshold,horizontal spillovers and forward spillovers have a negative impact on the manufacturing technology bias bias index,while backward spillovers have a positive impact on the technological advancement bias of China's manufacturing industry.