Study On The Reverse Technology Spillover Effect Of China's OFDI On “Belt And Road” Countries

The "Belt and Road" initiative was mainly proposed to build a community of shared destiny and achieve mutual benefit and win-win results between countries.China's direct investment on "One Belt And One Road" countries can promote advanced high-end manufacturing technologies to countries along the belt and road.But on the other hand,if countries along the route carry out technical cooperation with China,is there a spillover effect of reverse technology? If so,have Chinese companies absorbed reverse technology spillovers from countries along the belt and road? Is there any difference in the absorption capacity of reverse technology spillovers in different regions?Based on the perspective of absorptive capacity,this paper explores the problem from the following two aspects: theoretical transmission mechanism and empirical test.Firstly,by sorting out the literature on OFDI reverse technology spillovers,we found that the current scholars' research conclusions on the existence of OFDI reverse technology spillovers are inconsistent,and the realization of OFDI reverse technology spillovers is related to the absorptive capacity of the home country.Secondly,this paper analyzes the status of China's investment in countries along the belt and road on the basis of scale,region and industry,and then theoretically analyzes the realization mechanism of OFDI reverse technology spillover and the influence mechanism of regional absorption capacity on OFDI reverse technology spillover.Based on this,this paper selects the inter-provincial panel data of China from 2003 to 2017 and uses the system GMM method to explore whether China has acquired technology spillovers from countries along the belt and road.The results show that the positive OFDI reverse technology spillover effect has been realized at the present stage.In addition,this paper explores the influence of various absorptive agent variables on reverse technology overflow.The results show that domestic R&D investment,human capital level,economic development level,financial development scale and financial development efficiency play a positive role in promoting the realization of OFDI reverse technology spillover effect,while the high degree of opening to the outside world is not conducive to the realization of reverse technology spillover effect.However,there are obvious differences in the sub-region test.The domestic R&D investment,human capital level,economic development level,financial development scale and financial development efficiency promote the realization of OFDI reverse technology spillover effect in the eastern region.In the central and western regions,only human capital,economic development level,financial development scale and financial development efficiency can promote the spillover effect of OFDI reverse technology.