Research On The Impact Of OFDI Reverse Technology Spillover On The Upgrade Of Industrial Structure

With the development of economic globalization,Chinese enterprises are accelerating their pace of "going global".In such a complicated economic environment of the world,we still don’t know what will happen if Chinese companies increase the outward foreign direct investment(OFDI).Meanwhile,the world economies is going down without any sign of recover.Although the economy is still maintained a rapid growth rate,Chinese economy is facing some problems like the outdated industrial structure,excess capacity of production and other issues.Therefore,whether the Chinese enterprises OFDI can upgrade and optimize the Chinese industrial structure becomes a concern of domestic scholars.Firstly,this paper analyzes the current situation of China’s foreign direct investment and the current situation of domestic industrial structure according to previous researches.Secondly,it analyzes the feasibility of carrying out OFDI in microcosmic enterprises by the theoretical analysis of the reverse technology spillover of foreign direct investment.Thirdly,it explains how OFDI reverse technology spillovers affect the upgrading of industrial structure from three perspectives of Micro,Meso and Macroscopic.On the basis of the former analysis,the Spatial Durbin Model is then used to obtain the effect of OFDI reverse technology spillover on the industrial structure upgrade.Several conclusions are made throughout the theoretical analysis in the thesis:First of all,based on the technology gap model of the two enterprises,conclusion that a higher wage rate and a larger market share of non-technological advantages of enterprises are more likely to carry out foreign direct investment activities to improve its technology innovation level is made.Second of all,the division of the labor under the background of globalization,the increase of China’s economy,the swept of global financial crisis,the improvement of China’s production costs and the accumulation of high-quality talents provide the basics for our enterprises to "go global" for OFDI activities.Thirdly,through path of the Micro level to create investment,cross-border mergers and acquisitions and technology alliance,the path of Meso level to the industry within the enterprise competition and the industry within the enterprise cooperation and the Macro level of industry-related,Competition and industrial transfer,the path of those three levels of the common role of the OFDI reverse technology spillover and promote the upgrading of industrial structure.Obtain the following main conclusions through empirical analysis:To begin with,the spatial spillover effect is a factor that can not be neglected when researching the upgrade of industrial structure.Then,OFDI reverse technology spillover can produce a positive effect on the upgrading of industrial structure.This conclusion confirms that OFDI reverse technology spillovers can promote the upgrading of industrial structure through the mechanism of Micro,Meso and Macro level.Furthermore,industrial structure upgrading is also affected by per capita GDP,fixed asset investment,domestic R&D expenditure and foreign direct investment.Based on the above conclusions from researches,this thesis puts forward relevant policy suggestions from the four aspects including investing subjects and investment methods,improving the efficiency of R&D capital transformation,promoting the marginal industry of transfering and cultivating new industries to guide China’s foreign direct investment in order to guide the upgrading of domestic industrial structure.