| In order to cope with the competition and challenges brought by economic globalization,our country has been increasing the pace of Outward Foreign Direct Investment(hereinafter referred to as OFDI).OFDI channels can not only promote the acquisition of resources and the development of overseas markets,but also provide a new way for enterprises to acquire technology.However,the reverse spillover effect of OFDI is affected by many factors,among which,the host country investment environment is an important category of factors that can not be ignored.The influence factors of the reverse spillover effect of OFDI have attracted much attention from scholars,but the existing research focuses on the the home country.Therefore,exploring the impact of the host country’s investment environment on the technology-seeking-type OFDI reverse technology spillovers in China is of far-reaching significance for fully understanding the reverse spillover effect of OFDI and effectively using OFDI to improve our innovation ability.This paper studies the influence of the macroeconomic environment in host countries on OFDI reverse technology spillovers,including the level of economic development in host countries,the degree of opening to the outside world and the institutional environment.This paper first expounds the relevant literature of OFDI reverse spillover,combs the motivations of OFDI,defines the technology-seeking OFDI,selects 20 technology-seeking host countries by selecting national scientific and technological innovation indicators and cluster analysis and uses its OFDI statistical data from 2003 to analyze China’s technology-seeking OFDI.Secondly,based on the panel data of theabove host countries and the fixed-effects model,the article also uses the fixed-effectsmodel to add the cross-country terms to empirically examine the linear relationshipbetween the host country’s investment environment and China’s OFDI reverse technology spillover effect.Finally,this paper further uses the Hansen threshold regression model to empirically examine the relationship between the host country investment environment and China’s OFDI reverse Threshold characteristics of the impact of technology spillovers.The empirical results show that technology-seeking OFDI plays a significant positive role in improving the relative TFP between China and host countries.Meanwhile,macroeconomic conditions in host countries,represented by the level of economic development,market opening and institutional environment in the host country,are opposite to OFDI Technology spillover effect has an important impact,and showed different double threshold characteristics.The above empirical results reflect the impact of host country investment environment on the OFDI reverse spillover effect and provide some references for China to further strengthen the technology-seeking OFDI reverse technology spillover effect. |
