Can The Construction Of OFDI Network Promote A Country's GVC Position?

With the intensification of economic globalization,various countries are interdependent and infiltrated in terms of economy,thereby forming a multi-level integration relationship network from production to consumption.It is an important means for a country to consolidate and enhance its Global Value Chain(GVC)position by developing Outward Foreign Direct Investment(OFDI)and forming global production network and service network.Developed countries have long been the main source countries of global FDI,and firmly control the high value-added links of GVC.However,in recent years,developing countries have vigorously developed OFDI activities and actively deployed industrial chains,supply chains and innovation chains on a global scale,trying to transform from low-level passive participation in GVC to building self-led Regional Value Chain(RVC)and GVC,in order to promote the reconstruction of GVC and the reshaping of the international division of labor.However,few scholars have explored the effect of OFDI on GVC position from the perspective of "relationship".Moreover,most of the literature independently studies the impact of FDI or OFDI on GVC position,without considering the interaction between the two and their impact on the upgrade of GVC.Can a country consolidate or enhance its GVC position and GVC participation through the construction of its OFDI network? Is there an interactive relationship between a country's FDI network and OFDI network,and how does this interaction affect the promotion of the GVC position? This article seeks to explore the above issues from the perspective of social network analysis.Based on the bilateral investment data of 55 countries from 2003 to 2011,this paper uses social network analysis method to describe the characteristics of a country's OFDI network from three dimensions: network centrality,network intensity and network heterogeneity.On this basis,this paper empirically tests the impact of OFDI network characteristics on a country's GVC position and GVC participation,and discusses the interaction effect between FDI network and OFDI network and its GVC upgrading effect.The results show that(1)Since 2003,the global OFDI network structure has changed to a certain extent,but this change is a gradual process.There is a certain degree of self-stability in global OFDI network structure.The main western developed countries are the most important source of investment in the global investment market,which basically determines the pattern of the global OFDInetwork.(2)Network centrality and network heterogeneity have significant positive effects on GVC position and GVC participation,and network intensity is positively related to GVC position while negatively related to GVC participation,which shows that the construction of global OFDI network is conducive to the promotion of a country's GVC position and GVC participation.(3)The value chain upgrade effect of OFDI networks in developing countries is higher than that in developed countries.It means that developing countries constructing overseas investment networks is more conducive to moving to the center of the global ODFI network and thereby enhancing their GVC position.(4)There is an obvious interactive effect between a country's FDI network and OFDI network,which can effectively enhance a country's GVC position and GVC participation.