Study On The Influence Of The Reverse Of Technology Spillover Effect Of OFDI On Green Total Factor Productivity

Since the 21 st century,internationalized production has developed mainly through the mode of outward foreign direct investment(OFDI).As one of the most important emerging economies of the world,China has changed foreign investment policy recently from “bringing in” policy to the balance of “bringing in” and “going out”.China has gradually become a large investment home country.In 2017,China's outward foreign direct investment reached158.29 billion dollars,and ranked the third in the world,the stock of outbound investment reached $1809.04 billion,captured 5.9% share of total global OFDI stock.Technological advance is the internal driving force of a country's economic growth,which not only depends on its own R&D investment,but also the international technology spillovers.The OFDI reverse technology spillover is an important topic in economic research field for the technological,and it's also the key to the anticipation of national "going out" strategy.A country's absorptive capacity has a threshold for accessing foreign advanced technology,and human capital as an important index of it affects a country's access to technology.Based on the provincial panel data,by means of the threshold regression,taking human capital as the threshold,this paper studies whether the reverse of technology spillover from OFDI affects China green total factor productivity(TFP).The result shows that: The overall OFDI reverse technology spillover effect is negative,but when the threshold of human capital is added,the impact of FDI on green total factor productivity presents a non-linear law from negative to positive.When the human capital development is below the threshold value of 8.1164(average education years),the OFDI reverse technology spillover effect has a significant impact on productivity of-0.0197.When the human capital development crosses the first threshold value of 8.1164 and falls below the second threshold value of 10.5386,the impact of OFDI reverse technology spillover is-0.0026.However,it is not significant,and indicates that the OFDI reverse technology overflow in these provinces has been a development bottleneck.However,when the human capital level is over 10.5386,the adverse technology spillover effect of OFDI is significantly positive effect-0.0415.Most of China provinces' human capital is between the two thresholds,with only Beijing,Shanghai and Tianjin cross the second threshold and have a positive impact on TFP.