The Research On The Effects Of Reverse Technology Spillover Effect Of OFDI On Industrial Structure

In the era of economic globalization,foreign direct investment(FDI)is an important way for a country to actively integrate into the world economic system,mutual benefit and common development with the host country.Since the reform and opening up,the economic exchanges between China and the world have become increasingly close,especially with the entry into WTO,the development strategy of "going out" and the construction of "Belt and Road",China's OFDI has developed rapidly.At the present stage,the shortcomings of China's extensive economy have been exposed,and the mode of high investment and high energy consumption makes the problem of China's industrial structure more and more serious.With the slowdown of economic growth,China's economy has turned to the stage of high-quality development.in this new economic situation,to change the past economic development model,it is necessary to speed up the pace of industrial upgrading and find the core competitiveness.it is urgent to master advanced technology to promote economic growth.Technological innovation is of vital importance to the construction of a world scientific and technological power,and is the foundation of a strong and prosperous country.Different from the traditional technological innovation paths such as domestic R&D innovation,home-country enterprises allocate resources rationally through foreign direct investment,and acquire advanced technology from developed countries to carry out localized technological innovation through OFDI reverse technology spillover effect.this method has become the only way to break the bottleneck of innovation.In reality,technological progress contributes to the transfer of factors of production such as labor and knowledge in the industrial structure,and enterprises that absorb advanced factors of production can increase productivity,optimize their production network,and further promote the deep integration of economy and science and technology,and promote the optimization of industrial structure.Therefore,the country needs to give full play to the role of technology in the process of industrial structure optimization and upgrading,and take multinational enterprises as a bridge and OFDI reverse technology spillover effect as a link to promote the industrial structure to be advanced and efficient,which has become an important measure for China to maintain medium-and high-speed economic growth in the new era.To sum up,it is of reasonable significance to study the relationship between foreign direct investment and industrial structure from the reverse technology spillover effect.Based on this,firstly,this paper discusses the reverse technological effect of OFDI and the meaning of industrial structure,traces the classical theory of foreign direct investment in developed and developing countries,and expounds the necessity of promoting China's industrial upgrading through foreign direct investment.And from the micro,meso and macro levels to explore the mechanism of OFDI reverse technology spillover effect to optimize the industrial structure.Secondly,this paper analyzes the current situation of China's foreign direct investment and industrial structure respectively.According to the basic situation of China's OFDI from 2003 to 2018,this paper summarizes the current situation and changing trend of China's foreign direct investment and industrial structure.Thirdly,the model of the relationship between OFDI reverse technology spillover and industrial upgrading is set on the theoretical basis of Lmurp model,and the OFDI stock data of 30 provinces(cities)in China from 2003 to 2018 are selected,and the dynamic panel system GMM model is used to empirically study its effect on China's industrial structure indicators.The results show that China's OFDI reverse technology spillover has a significant positive impact on industrial structure optimization.The influence of the central and western regions is more significant than that of the eastern regions.Finally,this paper puts forward the countermeasures and suggestions to promote the OFDI reverse technology spillover to optimize the industrial structure from the micro and macro point of view,and the country implements the differential regional investment guidance policy based on the comparative advantages and factor endowment differences between the central and western regions.In view of the eastern region,we should adhere to the strategy of innovation-driven development,stimulate the vitality of the main body of innovation,build an industry-research platform,guide and encourage private enterprises to "go global" and encourage enterprises to invest in developed countries;the state strengthens the input of talents in the central and western regions,imports first-class R&D talents for regional R&D institutions,and improves innovation ability.