| Since reform and opening up,China has assumed the dual status as both the world's second largest host country and outward foreign home country of Foreign Direct Investment(FDI).In the background of fully open economy,utilizing inward FDI(IFDI)and conducting outward FDI(OFDI)have become the important way for “Made in China” to participate in the division of Global Value Chain(GVC)led by multinational corporations(MNCs).The traditional Made in China has been passively embedded in the GVC division system with low-cost advantages such as cheap labor and resources,and has created a number of Chinese miracles.However,when the fourth industrial revolution marked by Industry 4.0 begins,Made in China faces the risky situation of being locked in low end of GVC and crowd-out effect,due to the high external dependence on core technology and the rising cost of traditional factor endowments.Meanwhile,high-end manufacturing backflow to Europe and the U.S.caused by re-industrialization strategy,as well as developed countries' restrictions on China's investment in high-tech industries and the spread of de-globalization,have made unprecedented obstacle in internationalization process of Made in China.Therefore,how to use the bidirectional FDI effectively,and how to promote GVC position by technology spillover of IFDI and OFDI's harmonious development,will directly affect the realization of the sustainable development goal of Made in China,from big to strong and from full range to optimization.Focusing on technology spillover's bridge effect between bidirectional FDI and GVC position of manufacturing industry,this thesis innovatively integrates the harmonious development of bidirectional FDI and GVC position in the same theoretical framework.Firstly,after collecting and sorting out a large number of domestic and foreign scholars' relevant researches and basic theories,it analyzes theoretical mechanism of bidirectional FDI's influence on GVC position for developing countries,by taking into account technology spillover perspective,and then puts forward the hypotheses according to the theoretical framework.Secondly,it measures the interactive development index of bidirectional FDI and the GVC position based on WWZ method from 2004 to 2014,which respectively describes the harmonious development of bidirectional FDI and the variation trend of the GVC position in Chinese manufacturing sub-industries.The calculation results show that the interactive development of bidirectional FDI is fluctuating upwards as a whole and exhibits industry difference.The interactive development of bidirectional FDI in technology-intensive industries is significantly higher than that in labor-intensive and capital-intensive industries.The GVC position in Chinese manufacturing industry has improved,but it is still at the low end of GVC,especially in sectors close to the final consumer.Then,it verifies the theoretical framework by using 15 Chinese manufacturing sub-industries data in the same time period.The Generalized Least Squares regression results prove that technology spillover plays as a core channel of both Inward FDI's and Outward FDI's GVC position promotion effect in Chinese manufacturing industry,and the interactive development of bidirectional FDI can further significantly enhance this bridge effect,and it is more effective in technology-intensive and capital-intensive manufacturing.Moreover,the strengthening of domestic supporting capacity contributes to the promotion of GVC position in the same industry,reflecting the supporting effect of the National Value Chain(NVC)on the upgrading of GVC.Finally,on the basis of the empirical results,it offers suggestions on how to make a reasonable and effective strategy of bidirectional FDI based on the differences in industry factor endowments in China's manufacturing industry,and how to realize the interactive development of NVC and GVC through the advantages of hinterland. |
PDF Full Text Request