A Study On The Regional Economic Impacts Of China’s Outward Foreign Direct Investment

With the implementation of the Belt and Road Initiative,China’s outward foreign direct investment(ODI or OFDI)has achieved high-speed growth,and its flow ranks among the top of the world.Today,ODI plays a vital role in the international flow of capital and technology,the two core determinants of economic growth.The impact of China’s ODI on capital stock,technology and economic growth has become an important research topic concerning the new engines of economic growth,and an important study subject of regional growth.Therefore,this dissertation studies the impact of China’s ODI on domestic investment,technology spillovers and economic growth in China from the perspective of regional economy,taking accout of the four regions in China including the eastern,central,western and northeastern area.On the basis of the empirical conclusions,this dissertation puts forward suggestions on how to promote coordinated regionaldevelopment of ODI in China.This dissertation analyzes the economic effects of China’s ODI on the maindeterminants of regional economic growth,including effects on regional domestic investment and technology spillover.The study of the impact of China’s ODI on regional investment is an original attempt in this field.The regional perspective also provides insight in the study of ODI.In the practical sense,the study of the economic effects of ODI from the sole perspective of regional economic growth identifies a clear direction for regions to seize the investment opportunities provided by the Belt and Road Initiative.The study on the effect of China’s ODI on regional investment helps in increasing capital stock in China’s regional economy and enhancing regional growth momentum.The research on the regional technology spillover effect of China’s ODI will improve the performance and development of multinational enterprises in China,and relevant policies to promote regional technological progress.The major innovation of this dissertation is reflected in three aspects:Firstly,studying the economic impact of China’s ODI from the perspective of regional economics.Regional economic principles and analytical methods are adopted to emphasize the significance of regional approaches in the study of China’s ODI regional development.Secondly,this dissertation focuses on regional economic growth,with all the empirical analyses closely related to growth.This method gives this study a coherent and unified approach.The empirical studies in this dissertation are all related to regional economic growth,with variables ranging from regional capital stock and regional technology to regional growth as whole,thus providing a systematic framework.Thirdly,this dissertation summarizes the new ideas and theories of China’s ODI produced along with the implementation of the Belt and Road Initiative.These theories and ideas are important parts of the theoretical system of ODI.This dissertation consists of three parts,including nine chapters.The first part is the theoretical basis,including Chapters 1,2 and 3.Chapter 1 is an introduction,including problems,theoretical and practical significance,methods,basic structure and content,orgininality and shortcomings.Chapter 2 contains a literature review,summarizing the relevant theoretical and empirical researches on the determinants of ODI and its economic effects.Chapter 3 is the theory of ODI and its regional economic impact,including the theory of ODI in developed and developing countries,as well as the Belt and Road Initiative and related China’s ODI theories.The second part is the empirical study on the regional economic impacts of China’s ODI,including Chapters 4,5,6 and 7.Chapter 4 analyzes the development of China’s ODI and its regional development trend.Descriptive statistical analysis is used in studying the historical development stages of China’s ODI and the overall situation of China’s ODI since the implementation of the Belt and Road Initiative.Chapter 5 is an empirical study of the impact of China’s ODI on regional domestic investment.The empirical analysis methods such as time series analysis and panel data regression analysis are used to study the impact of China’s ODI on the capital accumulation in various regions of China.Chapter 6 analyzes regional technology spillover effects of China’s ODI.The impact of ODI on the technological innovation of China’s four major regions was investigated with regression analysis.Chapter 7 studies the effects of ODI on regional economic growth.The empirical methods used include unit root test,cointegration test and regression analysis.The impact of ODI on the economic growth of China and its four regions are respectively investigated.The third part consists of conclusions and policy implications.Chapter 8 contains the comparison of ODI and its impacts among major economies.Chapter 9 puts forward some suggestions on how to promote the coordinated development of regional ODI in China.According to the empirical research conclusions,feasible policy recommendations are provided to promote the coordinated and balanced development of China’s regional outward foreign direct investment.