| Economic globalization has become the main trend of world economic development in the 21 st century.With China’s "going out" strategy,China’s foreign direct investment has been rapidly developed,which has a profound impact on China’s economy.At the same time,Zhejiang Province with a higher degree of openness is in a critical period of industrial restructuring and has arduous tasks of industrial structure adjustment.Therefore,it is very important to explore the impact of foreign direct investment on industrial structure upgrading in Zhejiang province.In this paper,the effect of OFDI on industrial structure adjustment in Zhejiang province is studied.First of all,after combing the domestic and foreign scholars on the topic of research results,the paper selected the theory of Chenery industrial upgrading as the theoretical basis of this paper,and describes the main factors affecting the industrial structure upgrading;Secondly,The paper divided OFDI into four types including resource seeking OFDI,market seeking OFDI,strategic asset seeking OFDI,efficiency seeking OFDI based on the different investment motives of OFDI,and analyzes the four types of foreign investment and the effect on industrial structure upgrading path.Thirdly,this paper expounds the present situation of OFDI and industrial structure upgrading in Zhejiang Province,and constructs a model to demonstrate the influence of OFDI on industrial structure adjustment in Zhejiang province;In the empirical model construction,this paper establishes VAR model based on the development of the Chenery equation,and introduces R&D expenses indicators to measure the level of technological progress according to the development of Zhejiang Province;The empirical results show that the impact of is positive effect,but the is not significant which foreign direct investment on industrial structure of Zhejiang province;This is mainly due to foreign direct investment in Zhejiang province is rarely concentrated in the high-tech content of the high-end industry and service industry,but concentrated in the low-end production elements gathered manufacturing,wholesale and retail;Finally,it puts forward some countermeasures and suggestions on how to make more effective use of foreign direct investment to promote the upgrading of industrial structure in Zhejiang province on the basis of the research results. |
