| China has become the world’s largest foreign direct investment(FDI)inflow country,deeply reform comprehensively moves forward,the new round of reform on mineral resources management is successful and productive,and the foreign capital policy of mining industry is more active,so it is theoretical importance and practical significance to systematically assess the performances of China’s mining FDI in the past 20 years.Firstly,the author preliminary estimates the effect of FDI technology spillover effect in China’s mining industry,constructs crowding in effects(crowding out effects)model,technology spillover effect model and economic effect model;discuss capital formation effect,technology spillover effect and economic driving effect in the utilization of foreign capital in the mining industry,but the results show that the utilization of foreign investment effect in mining industry is not so significant.The reason is that FDI technology spillover effect does not occur automatically,it is affected by many factors including multinational corporations and the host country factor.So based on the preliminary estimates,the author adds variable which reflects the absorption capacity into the model,studies the effect of absorption capacity in China’s mining FDI technology spillover effect,calculates the total factor productivity which reflects progress of the mining industry,and adds the total factor productivity as explanatory variables into the model,analyzes the relationship between the FDI technology spillover effect and technology gap,human capital and research and development investment.The author found that human capital and the technology gap are the important factors that affects the total factor productivity in China’s mining industry.This conclusion is closely related to the channel of FDI technology spillover effect.There are four channels that foreign direct investment affected host country’s production including the demonstration effect,competition effect,training effect and correlation effect,among which,the human capital play a key role in demonstration effect,competition effect and training effect;and industrial worker’s number,education level and personnel quality constitute the core of human capital.When the total amount of FDI is fixed,enhancing the absorption ability can effectively improve FDI technology spillover effect;and when the absorption capacity is fixed,increasing the total amount of foreign direct investment can promote the FDI technology spillover effect.While the foreign capital policy is an important factor that affects the inflow of foreign investment in the mining industry.Then,the author analyzes mineral resources development policy in the United States,Canada,Australia,Indonesia,under the background of loose mineral resources policy,analyzes the foreign capital control in mineral resources and mineral kinds change,proposes suggestions for China’s reference.The author builds a quantitative model which reflect the foreign policy tendency to study the foreign capital policy impact on the FDI technology spillover effect in mining industry,and the foreign equity ratio variable is incorporated into the FDI technology spillover model.The results show that interaction of the proportion of foreign equity and fixed capital,human capital can significantly promote China’s mining industrial’s added value,while the interaction of proportion of foreign equity and R & D investment is not the main factor that promotes the China’s mining industrial’s added value.Further analysis show that the proportion of foreign equity can reflect the change of foreign capital policy on mining industry in China,so we can identify foreign capital policy affects FDI technology spillover effect in the mining industry by way of capital stock and human capital.In order to give full play to the spillover effect in the mining industry in China,government should focus on guiding foreign capital policy,better use the interaction of foreign equity,capital stock and human capital,should increase the proportion of foreign equity,in addition to enhancement of stock of fixed capital,human capital,R&D investment,which will better promote foreign capital stock’s effect in FDI technology spillover effect in mining industry.Finally,the author builds the dynamic game model between foreign mining investors and the host country government,the results show that the investment environment is positively correlation to the capital demand or technology gap,but negatively correlation to preferential policies with other conditions unchanged.The scale of foreign investment in the mining industry is positively correlation to capital demand or technology gap,and preferential policies of foreign investment,according to the related equilibrium point,the author puts forward measures to attract the inflow of foreign capital in the mining industry.The main conclusions of this paper are: absorption capacity,proportion of foreign equity has significant effect on FDI technology spillover effect.When scale of FDI in mining industry is fixed,the enhancement of absorption capacity,such as strengthen human capital,improving efficiency of R&D investment,can promote the effect of FDI technology spillovers in mining industry.When the absorption capacity is fixed,improvement of the investment environment and expanding the proportion of foreign equity can promote the effect of FDI technology spillovers in mining. |
