Study On The Productivity Effect Of China's Expansion Of Overseas Service Market

Since 2012,the status of the service economy is constantly improving,China as a large developing country,its service economy has also entered a new stage of development,which needs to further open up to the outside world,expand overseas service markets,and promote productivity.At this stage,which requiring Chinese service industry to further open up the outside world to expanding the service market so that promoting productivity.After years of medium and high-speed growth in the service industry,high-quality development has become an important development strategy for the service industry.Therefore,in order that the rapid and high-quality development of the service industry,it is necessary to conduct more in-depth research on the relationship between expanding overseas service markets and service industry productivity.In theory,this article inspects the relationship between China's service export and service industry outward direct investment(OFDI)and service industry productivity.By constructing a mathematical model that analyzes the internal mechanism of service export and service industry OFDI affecting service industry productivity.It is found that service export and OFDI of service industry not only directly affect service industry productivity,but also have an indirect effect on service industry productivity through technological innovation capabilities.In terms of empirical analysis,this article uses the data of service export,service industry OFDI,and productivity of 27 provinces and cities in China to empirical analysis.First,this paper uses the ACF method to measure the productivity of the service industry as metrics of the explanatory variables.Second,it uses the panel estimation method to test the impact of service exports and service OFDI on the productivity of the service industry,and adds the interaction term between OFDI and technological innovation capabilities to examine its impact path.The empirical results show that:(1)the impact of service exports on service industry productivity is significantly positive,indicating that service exports have an important role on promoting service industry productivity.However,the coefficient of the interaction term between service export and technological innovation capability is negative,which indicates that the current service export has a restraining effect on the productivity of the service industry through the technological innovation capability path.(2)The impact of OFDI in service industry on service industry productivity is significantly positive,indicating that OFDI in service industry also promotes productivity improvement.Moreover,the coefficient of the interaction term between OFDI in service industry and technological innovation capacity is positive,which indicates that OFDI in service industry can promote the productivity improvement of service industry through the path of technological innovation ability.(3)Dividing the sample according to the level of economic development,the institutional environment,and the level of education,it found that only the economically developed regions,the regions with better institutional environments,and the regions with higher education levels had the above-mentioned impact paths.Based on the above analysis,this article proposes four policy suggestions to promote the productivity improvement of the service industry: accelerate the process of overseas service market expansion to improve service industry productivity;improve technology absorption capacity to promote service industry technology innovation;build a good economy and institutional environment to promote the development of the service industry;improve the level of human capital to promote the development of the service industry.