Research On Reverse Technology Spillover Effect Of OFDI In Service Industry Based On Industry Difference

Since the founding of the People's Republic of China 70 years ago,the scale and competitiveness of China's modern service industry has grown increasingly,which has become an important part of ensuring people's employment and stabilizing economic development.In 2018,China's outward foreign direct investment(OFDI)stock accounted for 78%,and China's service enterprises accelerated their integration into the international division of labor.The reverse technology spillover effect produced by OFDI has become an important way to accelerate the technological breakthrough of promoting the independent innovation and development of service industry in China.The above background and facts showed that it was of great significance to study the reverse technology spillover effect of OFDI in service industry.At present,there are some differences among the various industries in the field of service industry in China.On the one hand,there are differences in industrial technology intensity,on the other hand,there are differences in industrial function.Therefore,based on industry differences,this paper studies the impact of OFDI reverse technology spillover effect on the basis of service industry classification.Firstly,according to the difference of technology intensity,the service industry was divided into technology intensive service industry and non-technology intensive service industry,and also was divided into productive service industry and life service industry according to the functional difference.Then,based on the three aspects of the scale,structure and performance of OFDI in service industry,it was concluded that the scale of OFDI in China's service industry was growing rapidly,while the investment structure was unbalanced,the proportion of technology intensive service industry and productive service industry was higher than that of non-technology intensive service industry and living service industry respectively,and the investment performance was lower than the world average.Then,this paper analyzed the mechanism of service industry OFDI reverse technology spillover.They were:(1)the mechanism of reverse technology spillover acquisition,which was mainly completed through study and imitation mechanism and fair competition mechanism.Among them,technology intensive service industry was more likely to learn and imitate mechanism,while nontechnology intensive service industry tended to fair competition mechanism.(2)Reverse technology transfer mechanism consisted of human capital flow mechanism and R&D achievement feedback mechanism.(3)The absorption mechanism of reverse technology was also the key to the success of the spillover effect of reverse technology.The factors included the development level of service industry,the degree of opening to the outside world,the intensity of human capital,the intensity of capital and the scale of enterprises.Then,based on the theoretical mechanism,the hypothesis was put forward.Hypothesis 1: there was reverse technology spillover effect in OFDI of service industry.Hypothesis 2: industry differences leaded to different results of reverse technology spillovers.Hypothesis 3: the absorptive capacity of technology intensive services and producer services was better.Among them,for the test of existence of hypothesis 1 and hypothesis 2,the basic linear model,i.e.C-H model and L-P model,was used,while for hypothesis 3,the non-linear panel smooth transition model(PSTR)was used to test based on the different absorption capacity of industry differences.The results showed that,China's service industry can produce reverse technology spillover effect through foreign direct investment,and the industry difference made the reverse technology spillover effect of all kinds of service industry different after classification.At the same time,the technology intensive service industry has stronger absorption capacity than that of the non-technology intensive service industry,and the productive service industry has better absorption capacity than that of the living service industry.Finally,based on the results of theoretical and empirical tests,this paper puts forward suggestions to promote the spillover effect of reverse technology in China's service industry.