| The Chinese economy has entered a stage of high-quality development,and technological innovation has become the core driving force for high-quality development.Under the conditions of an open economy,technological innovation in a country or region not only requires increased investment and policy support in technology research and development and talent cultivation to strengthen independent innovation capabilities,but also fully utilizes international technology spillovers brought about by channels such as international trade and direct investment.As the "Going globally" strategy and the "the Belt and Road" construction continue to advance,OFDI has become an important way for enterprises to participate in international economic and technological cooperation and competition,as well as one of the main ways for Chinese enterprises to improve their independent innovation capability,upgrade China’s industrial structure and national technological progress.Therefore,studying the reverse technology spillover effects and influencing factors of OFDI in China and various regions has important theoretical and practical significance.The paper takes the effect of reverse technology spillovers at the enterprise,industry and national levels as the research object,and takes the externality theory,internalization theory,international technology spillover theory,technology innovation industry upgrading theory and absorptive capacity theory as the theoretical support to build an analysis framework,and uses normative analysis,empirical analysis,comparative analysis and other diversified analysis methods.Firstly,Analyzed the reverse technology spillover mechanism of OFDI,including the acquisition and transfer mechanism of overseas technology,the absorption and reinnovation mechanism of technology,intra-industry demonstration,competition and industrial structure upgrading effect,and inter-industry correlation,competition,and national technological progress effects.The parent company obtains and utilizes the advanced technological resources of the host country through cross-border mergers and acquisitions and green space investment;Overseas subsidiaries transfer their acquired technical resources back to the parent company through feedback on research and development achievements,transmission of technical information,and flow of scientific and technological personnel,promoting the improvement of the parent company’s independent innovation ability;The parent company absorbs advanced technology resources through learning advanced technology and based on objective absorptive capabilities,thereby carrying out localized innovation of technology;Based on the mechanisms of intra-industry demonstration,competition and industrial structure upgrading mechanism,as well as the mechanisms of inter-industry correlation,competition,and country technological progress,this paper analyzes the relationship between the enhancement effect of China’s OFDI reverse technology spillover on enterprise independent innovation capability,industrial structure upgrading,and national technological progress,laying the foundation for subsequent empirical testing.Secondly,clarify the evolution process of China’s OFDI since the Reform and Opening Up,and sort out the characteristics of reverse technology spillovers in China’s OFDI.China’s OFDI has gone through four stages: initial exploration,potential transformation,rapid expansion,and improving quality and efficiency.The characteristics of reverse technology spillovers in China’s OFDI are mainly reflected in four aspects: the spillover subject is mainly private enterprises,the spillover is concentrated in technology-intensive industries,the spillover scale is gradually expanding,and the absorptive capacity of spillovers is continuously increasing.Thirdly,based on the analysis of the generation mechanism of the enhancement effect of enterprises’ independent innovation ability,industrial structure upgrading effect,and national technological progress effect of OFDI reverse technology spillover in China,select the inter provincial panel data of China from 2003 to 2019,and take the OFDI stock of manufacturing industry,information transmission/software and information technology service industry,scientific research and technology service industry flowing into five developed countries or regions in Chinese Hong Kong,the United States,the European Union,Singapore and Australia as the research sample.From the perspective of absorptive capacity for advanced technology,seven influencing factors are selected,including China’s R&D investment intensity,education level of workers,and government support for R&D,etc.The panel threshold regression model,panel smooth transition regression model and interaction term model were respectively used to empirically test the three effects and their influencing factors,and the following test results were obtained: the first result is that China’s OFDI reverse technology spillover has a significant effect on enhancing the independent innovation ability of enterprises,and except for the level of financial development,other factors at the absorptive capacity level have a threshold effect on its impact.From the perspective of regions,OFDI reverse technology spillovers can significantly promote the improvement of independent innovation capabilities of enterprises in the eastern,central,and western regions,but have a strong inhibitory effect on the independent innovation capabilities of enterprises in the northeast region.The threshold effect of absorptive capacity in each region also exists in regional heterogeneity.The second result is that there is a single threshold for the impact of financial development level on the upgrading effect of China’s OFDI reverse technology spillover industrial structure.Currently,this indicator has exceeded the threshold and can play a significant promoting role.Other influencing factors have not had a positive impact after crossing the threshold.From the perspective of regions,OFDI reverse technology spillover can significantly promote the upgrading of industrial structure in the eastern region only after the R&D investment intensity exceeds the second threshold,while other influencing factors have not played a promoting role before and after the threshold;There is a single threshold for the technological gap,economic development level,and opening up level in the central region,and after crossing the threshold,all of them have a negative effect on the upgrading effect of industrial structure;After the education level of workers,technological gap,financial development level in the western region,R&D investment intensity and economic development level in the northeastern region cross the threshold,OFDI reverse technology spillover significantly promotes the upgrading of the local industrial structure,and the relevant indicators in the western and northeastern regions have both crossed the threshold,which can significantly promote the manifestation of the upgrading effect of the industrial structure.The third result is that the national technological progress effect of OFDI reverse technology spillover in China has not yet been shown,but except for the level of financial development,the other six influencing factors have all had a positive impact.From the perspective of regions,OFDI reverse technology spillovers only significantly promote the improvement of total factor productivity in the eastern region,which is due to the difference in absorptive capacity among regions.The intensity of R&D investment,the technological gap,the level of economic development,the level of opening up and government support for R&D in the eastern region all significantly promote the emergence of the effect of technological progress,of which the education level of workers is the most influential.The absorptive capacity of advanced technology in the central,western,and northeastern regions is relatively weak.Except for the level of opening up in the northeastern region,other influencing factors have not had a significant positive impact on the realization of the technological progress effect in the region.Finally,it is concluded that OFDI reverse technology spillover has a progressive relationship among enterprise,industry and country levels.China’s OFDI reverse technology spillover has the most obvious and direct effect on the improvement of enterprises’ independent innovation ability,while the effect of industrial structure upgrading and national technological progress is relatively indirect and has a long-term difference.At the same time,it puts forward some countermeasures and suggestions to create a favorable institutional environment for enterprises to carry out technology seeking OFDI,improve the absorptive capacity of advanced technology,and formulate differentiated measures against regional heterogeneity. |
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