Research On The Reverse Technology Spillover Of China’s Outward Foreign Direct Investment And Its Influence Factors

With the further development of economic globalization,the competition among countries(regions) is increasing and the importance of technology is highlighted.Technical level can be improved not only by independent research and development,but also by external acquisition.As a channel of technology transnational diffusion and transfer,foreign direct investment has transported a large number of overseas R&D technology and management experience to our country since 1990 s.With the development of our economy and society,technology spillover in this way gradually shows the feature of low-tech.The desire to exchange market for technology seems hardly meet the need of social development.Our government strongly encourages enterprises that with certain technical advantages to go out in recent years,in order to cultivate their own competitive advantage.Since 2003,China’s outward foreign direct investment has continued to grow and the growth rate has exceeded foreign direct investment.It seems necessary to research on whether the rapid growth of outward foreign direct investment can bring advanced R&D technology to China and promote our domestic technology level.In order to examine the reverse technology spillover effect of outward foreign direct investment,we use China’s provincial panel data from 2003 to 2014 and international R&D spillover model.The empirical result shows that from the national level the reverse technology spillover of China’s outward foreign direct investment is not significant at present.It’s not as obvious as technology spillover under domestic R&D research channel,import trade channel and foreign direct investment channel.To some extent,it even hinder the improvement of domestic technology.While from the regional level,reverse technology spillover effect only occurs in the east.In the central and western parts of China,outward foreign direct investment doesn’t have a positive impact on regional technology progress.On this basis,this paper uses panel data model to further analyze the factors that affect reverse technology spillover.The empirical result shows that human capital level,the level of opening to the world,technology gap,financial market development level,research and development level and government support all affect the reverse technology spillover effect.In addition to the level of opening to the world and research and development level facilitate the reverse technology spillover,the remaining factors all playing a hinder role.Among them,the financial market development level is the biggest obstacle and the technology gap is the smallest.Finally,we put forward the corresponding countermeasures and suggestions from the perspective of country(region) and enterprise which base on the above research.For example,cultivating competitive outward foreign direct investment enterprises,enhancing the level of education,increasing the level of human capital and improving enterprises’ absorptive capacity and embedding capacity.So that we can obtain more reverse technology spillover and develop our domestic technology.