Study On Regional Differences Of China's OFDI Reverse Technology Spillover And Its Threshold Effect

China's manufacturing has been suppressed for a long time at the low end of the global value chain,and faces the structural problem of"Hu Huanyong's line paradox".The distribution of population and wealth in different regions is seriously unbalanced.At the same time,China has gradually become a two-way flow country of international capital.China needs a strategy based on both inward foreign investment and outward foreign investment,reconstructing a new pattern of opening.Improve the technology absorption capacity of each region,make good use of thereverse technology spillover effect of OFDI,rely on technological progress,reduce the production cost of enterprises,overcome the obstacles of rising factor costs,continuously improve the quality of industrial development,and enhance the international competitiveness of the industry.In order to analyze the existence and influencing factors of the reverse technology spillover effect of China's outward foreign direct investment,this paper builds an econometric model based on the C-H model and the L-P model,and uses the panel data of various regions in China for statistical analysis and empirical analysis.The conclusions of this paper are summarized as the following three points:(1)In the research years,China's OFDI does not have a significant reverse technology spillover effect,and it cannot promote China's technology progress.(2)In terms of regions,China's OFDI has significant regional differences in the reverse technology spillover effect.OFDI has a significant reverse technology spillover effect in eastern China.(3)R&D investment,human capital,technology gap,institutional environment and population aging have a significant impact on reverse technology spillovers.When these influencing factors exceed the threshold level,the effect of OFDI reverse technology spillover can be significantly improved.By the end of 2017,most provinces in eastern China have already exceed the threshold of various influencing factors,and the central and western regions haven't exceed the threshold.The innovations of this paper are as follows:(1)At present,there is no complete and systematic theoretical system for the transmission mechanism of OFDI reverse technology spillovers in developing countries.This paper summarizes the five transmission mechanisms of reverse technology spillovers,and introduces the Cournot model,which improves the current research on the OFDI reverse technology spillover conduction mechanism.(2)In the study of the influencing factors of the OFDI reverse technology spillover effects,this paper introduces a more effective threshold regression model and measures the specific threshold level of each influencing factor.(3)Although some scholars have carried out empirical research on the threshold characteristics of OFDI reverse technology spillover effects,the thresholds for their investigation are mainly economic development level and technological gap.This paper also examines the threshold of institutional environment and population aging.