Research On The Impact Of China's OFDI Reverse Technology Spillover To Independent Innovation

The level of independent innovation ability in the era of knowledge economy has become the key to the sustainable development of a country's economy,and it has also become an important manifestation of national comprehensive strength and international competitiveness.China's economic development has nearly 40 years since the reform and opening,and has entered the new stage of element-driven to innovation-driven,relying on the traditional introduction of foreign mature and standardized technology has been unable to provide lasting economic development,and with the domestic advanced technology lock in developed countries,but also makes the introduction of foreign technology development model is difficult,the development practice of the United States,Japan,South Korea and other countries also shows that only in learning and imitation on the basis of independent innovation ability to enhance the final formation of the country and the core competitiveness of enterprises.Therefore,independent innovation has become the only way to China's development.In the latest 2016 Global Innovation Index(GII)list,China is only ranked twenty-fifth,in addition,China's R&D investment intensity,the number of R&D personnel per million,the millions of people owned by the PCT(Patent Cooperation Agreement)and the number of national financial and scientific and technological funding compared with the developed countries also have a larger room for improvement,and China as the world's second largest economy is clearly disproportionate status.The lack of innovation has seriously constrained the sustainable development of China's economy and has made Chinese enterprises struggling in the process of climbing high-end links to the global value chain.At the same time,with the rapid economic globalization and the country's "going out" strategy to promote the implementation of China's foreign direct investment(OFDI)has made a leap-forward development,investment flows have surpassed Japan ranked second in the world and for the first time to achieve two-way direct investment under the net capital output,to adjust the domestic industrial structure,optimize the allocation of resources,the depth of integration into the global economy and from the international market access to capital,technology and strategic resources to provide an important driving force.China's economy is in the old and new kinetic energy conversion in the current,economic transformation and upgrading of the critical period,how to effectively enhance the ability of independent innovation to sustainable development of the economy to provide a new source of power has become an imminent problem.Romer and Lucas proposed that the "new growth theory" that innovation is an important source of economic growth in a country,three times the development of scientific and technological revolution has also shown that only technological progress on the basis of economic growth to maintain long-term decline.Therefore,the new situation to enhance China's independent innovation capability will master the global science and technology competition opportunities to provide an important guarantee,and become the key of China's economic "corner overtaking".Since the reform and opening up,the "development" strategy has played an important role in alleviating the shortage of funds in domestic construction,promoting economic growth,stimulating employment and acquiring international technology spillovers.However,some scholars have shown that " for the purpose of the introduction of foreign policy did not fundamentally enhance China's independent innovation capability.Therefore,under the new situation,with the vigorous development of China's foreign direct investment,as one of the important channels of international technology spillovers,this paper focuses on the following problems on the impact of OFDI reverse technology spillovers on independent innovation: What path and mechanism of OFDI reverse technology spillover affect innovation? China's OFDI reverse technology spillover can effectively enhance the ability of independent innovation? Is there any difference in different regions and the influence of different levels of independent innovation? Is absorptive capacity and China's OFDI reverse technology spillover affect the independent innovation has threshold effect? It is of great theoretical and practical significance to study the series of problems in order to find a new impetus for the sustainable development of China's economy and to promote the smooth implementation of the national innovation driven development strategy.In summary,this paper combines the above problems and comprehensively uses the research method of normative analysis and empirical analysis,following the research ground of theoretical bedding,present situation description,mechanism exploration,empirical test and policy suggestion,and deeply explores the impact of China's OFDI reverse technology spillovers on independent innovation effect,from the specific chapter arrangement,this article is divided into eight chapters.The first chapter is the introduction part.Firstly,the background and significance of this paper are briefly summarized and the related literatures are reviewed.Secondly,the research ideas and methods,as well as the main contents and the research objectives to be realized are introduced.Finally,introduces the possible innovations of this paper;The second chapter is the basic concept of the definition and theoretical basis,first of all,the process of the process involved in the definition of the basic concepts,followed by the relevant theory of induction and summary;The third chapter is mainly summarize China's development of direct investment and independent innovation since the reform and opening up,and provides empirical support and data support for the follow-up mechanism and empirical analysis.The fourth chapter further explores the path selection and mechanism of OFDI reverse technology spillovers to independent innovation,and then lay the foundation for the analysis.The fifth chapter based on the improvement of the international R&D spillovers model,respectively from the three aspects of the overall effect China's OFDI reverse technology spillover effect of independent innovation,regional impacts and on different levels of innovation for the empirical test;The sixth chapter by selecting the six proxy variables to measure the absorptive capacity,the author uses the panel threshold regression model to test the actual effect of absorptive capacity and OFDI reverse technology spillover on the independent innovation.The seventh chapter,based on the aforementioned research conclusion and reference on the experience of developed countries such as Japan and South Korea,respectively from the two levels of government and enterprises put forward the policy recommendations to promote the China independent innovation by OFDI;the eighth chapter is the conclusion of this paper,pointing out the deficiencies and the future research.According to the above research,this paper concludes the following main conclusions:(1)China's foreign direct investment is developing rapidly,but there are still some problems that cannot be ignored in terms of too concentrated investment position and investment structure is not reasonable.The ability of independent innovation has been significantly improved,but there are still gaps in the aspects of innovation quality and efficiency compared with developed countries;(2)Foreign direct investment can influence international R&D resource acquisition through green investment,cross-border mergers and acquisitions,the establishment of overseas R&D institutions and the conclusion of international strategic alliances;(3)The mechanism of OFDI reverse technology spillover to independent innovation can be summed up as industrial agglomeration effect,talent flow effect,R&D cost sharing effect and R&D effect feedback effect;(4)OFDI reverse technology spillover has a positive impact on China's independent innovation capability,but there are some regional differences,and the impact of different levels of independent innovation is not the same;(5)Absorptive capacity has a threshold effect on OFDI reverse technology spillover to enhance the capability of independent innovation,and there is a significant difference in the impact of OFDI reverse technology spillovers on independent innovation in different thresholds.At present,only Beijing,Shanghai,Guangdong and other economically developed provinces can cross the threshold and get the positive effect of OFDI reverse technology spillover.