Research On The Influence Of FDI On The Total Factor Productivity Of Manufacturing Industry In Hunan Province

After more than forty years of reform and opening up,FDI has continuously flowed into Hunan,which has greatly eased the shortage of funds in Hunan Province,and has also promoted the improvement of manufacturing technology and productivity in Hunan Province.Research on the impact of FDI technology spillover effects on related industries has also been widely concerned by scholars at home and abroad.In this context,combined with the actual situation in Hunan Province,this article raises the following questions: 1.Will FDI affect the total factor productivity of Hunan manufacturing industry,is it a positive or negative impact? 2.How does FDI affect the total factor productivity of manufacturing in Hunan Province through technological spillovers? How does it work? 3.Does the technology spillover effect of FDI have regional and industry heterogeneity? 4.How to make better use of FDI to optimize the manufacturing structure of Hunan Province and increase the total factor productivity of the manufacturing industry?Therefore,in view of the above problems,based on the technology spillover effect of FDI,this paper calculated the level,forward and backward of FDI by using the data of 76 tertiles in China’s domestic manufacturing industry in Hunan Province from 1998 to 2007.Spillover effect,and use panel regression,intermediary effect test,systematic GMM analysis and other methods to empirically test the impact of FDI on the total factor productivity of manufacturing in Hunan Province.Through the above research and demonstration,it is helpful for us to further understand the technology spillover effect of FDI and the mechanism of FDI technology spillover effect on the total factor productivity of manufacturing in Hunan Province.The empirical results show that:(1)From 1998 to 2007,the growth rate of total factor productivity of the manufacturing industry in Hunan province fluctuated,and domestic and foreign investment were relatively different.(2)The three technology spillover channels of FDI(horizontal,forward and backward spillover effects)all have a significant positive effect on the total factor productivity of manufacturing in Hunan Province.Among them,the overall impact of horizontal spillover effects is more prominent.(3)In the analysis of mechanism,the production cost and management cost of intermediary variables play a greater role,and the growth effect of the enterprise itself is relatively weak.(4)There are heterogeneities in regions and industries.The FDI technology spillover effect of the Changzhou-Zhutan urbanagglomeration has the most prominent impact on the total factor productivity of the manufacturing industry,followed by the southern Hunan urban agglomeration,and the technological spillover effect of the western Hunan urban agglomeration is not significant;technology The three technology spillover paths of intensive industries are the most significant.The technology spillover effect of labor-intensive industries is slightly weaker than that of capital-intensive and technology-intensive industries.The forward spillover effect of technology-intensive industries is not significant.Finally,based on the results of the previous theory and the empirical research analysis,this article puts forward the following six policy recommendations: first,focus on learning advanced management experience and improve the production efficiency of local enterprises;second,focus on foreign investment structure and formulate reasonable Foreign investment introduction policy;third,focus on independent innovation and improve technological absorption capacity;fourth,focus on deepening the relationship between foreign-funded enterprises and upstream and downstream local enterprises;fifth,focus on the construction of urban agglomerations,and play a role in radiation;sixth,focus on Provide policy recommendations for different types of industries to adopt differentiated policies,in order to improve the total factor productivity of local manufacturing in Hunan Province and promote the transformation and upgrading of manufacturing in Hunan Province.