A Research On China’s OFDI Reverse Technology Spillovers Treshold Effect To Countries Along "The Belt And Road" Under Multi-dimensional Distance Perspective

As the development of the globalization,the degree of opening to the outside is becoming deeper.OFDI is more and more important for all of the countries.During this period,the reverse technology spillover effect brought by OFDI has been heatedly discussed.However,most of the researches paid attention to the developed countries,the influencing factors and the conduction paths.In September 2013,China put forward to build “The Belt and Road” which also indicate that China will continue to carry out economic cooperation with countries along the “Belt and Road”.There are a lot of differences in economic,culture and institution between these countries.Will the differences affect the OFDI reverse technology spillover effect ? How does the influence exist ? We need to discuss further.In this research,we firstly sort out the relevant research literatures,handle the status in this research area.Then we select sample countries by comparing their flows of China direct investment and the foreign direct investment in their own countries.Then calculate the distance in economy,culture and institution.Meanwhile,select the indicators from the economy,culture and institution to build up a model for their comprehensive distance.At last,Calculate the comprehensive distance between the sample countries and China.Finally,we use the Hansen threshold model to test whether the OFDI reverse technology spillover effect has the threshold effect and try to estimate the accurate range.The empirical result shows that there are a little differences between China and Iran,Thailand,India in comprehensive distance,while there are more differences between China and some European countries.In addition,China’s reverse technology spillover effect of OFDI based on institutional distance and economic distance has double threshold.The reverse technology spillover of OFDI based on cultural distance has a single threshold.Besides,there also has double threshold effect about the spillover effect of OFDI reverse technology based on multi-dimensional distance in China.When the data is lower than the first threshold,the effect of OFDI reverse technology spillover is not significant.When the distance reaches the threshold,the effect will become significant.When it reaches the second threshold,the more sufficient technology spillover will be obtained.Besides,the number of countries which have reached the threshold are on the rise.Finally,according to the results,we will give some policy recommendations.