A Study On Chinese OFDI Technology Reverse Spillovers

In the Era of economic globalization,the increasingly fierce competition between countries makes technological innovation ability become the key to a country's economic sustainable development,it has also become the important embodiment of national comprehensive strength and international competitiveness.In the past Chinese economic growth mainly depends on the input of factors,and the lack of technological innovation capability seriously restricts the sustainable development of Chinese economy.There are two ways to improve a country's technological innovation capability:one is the independent innovation based on local R&D investment,and the other is the secondary innovation through the introduction,absorption and digestion of foreign technology.In recent years,OFDI,as an increasingly important channel of international technology spillover,has attracted the attention of scholars at home and abroad.The reverse spillovers of OFDI can be conducted at the company level,industrial level and national level.With the accelerating process of economic globalization and push forward the national strategy of "going out",Chinese OFDI achieved leap-forward development,investment flows has overtaken Japan and ranked No.2 in the world and for the first time the two-way direct investment under the item of net capital output.It also provides important channels for adjusting the domestic industrial structure,optimizing the allocation of resources,deeply integrating into the global economy and obtaining capital,technology and strategic resources from the international market.Therefore,combined with our country economy in transition,needs to promote technology innovation ability,and the background of China's OFDI boom,this thesis study the following problems:the OFDI reverse technology overflow and mechanism through which path affect the technological innovation ability?Can Chinese OFDI reverse technology spillover effectively improve domestic technological innovation capability?Are there differences between regions?Based on the critical review of the relevant theoretical researches on technology spillover effect of OFDI,this thesis discusses how the OFDI investment affects Chinese technological innovation capability,and present a promotion mechanism of technological innovation capability through OFDI.This thesis uses Chinese inter-provincial panel data(from 2003 to 2015),and extends the L-P model by introducing the interaction term of absorption capacity and the obtained foreign R&D capital stock through OFDI.The results of empirical test show:OFDI can promote China's technology innovation capability.For China's eastern region and western region,OFDI has gained positive reverse technology spillover,and the influence of OFDI on technological innovation ability is not significant in the central region.At the national level and at the regional level,independent innovation is the key factor driving the improvement of China's technological innovation capability.Finally,based on theoretical analysis and empirical test results,this thesis gives relevant policy suggestions from the enterprise level and macro government level.