Study On The Effect Of OFDI On The Export Structure Of Service Trade In China

Nowadays,with the rapid development of communication technology and economic globalization,most countries have experienced economic service,and the total amount of China's service trade has accelerated.As of the end of 2017,China's trade in services was US$695.7 billion,ranking the second in the world,but the deficit was huge.The reason is that the export structure of China's service trade is unreasonable and its competitiveness is weak.Therefore,how to optimize the export structure of service trade has become the focus of China's development of service economy and trade at this stage.At the same time,in the process of accelerating the integration of globalization in the world,the development of Outward Foreign Direct Investment(OFDI)is mature.Since the introduction of the“going out”strategy in China,the total volume of OFDI has increased,especially in 2015,China's OFDI has surpassed FDI for the first time in history.Investment and trade are related to the composition of the trade structure.In view of this,this paper will study the impact of OFDI on China's service trade export structure,and provide corresponding policy advice for China's more effective OFDI and optimization of service trade export structure in the future.This paper first clarifies the core concepts of the research content,and sorts out the domestic and foreign literature on the service trade effect of OFDI and the export structure of service trade.Then it summarizes and analyzes the status quo of China's OFDI and service trade export structure,and finally clarifies the impact mechanism of OFDI on service trade export structure.In the empirical study,the service trade export structure relative index is used as the measure index for optimizing the service export structure.The model is used to conduct multiple regression and related tests on the sample data of China from 1991 to 2017.The results show that the country's service can be improved with the increase of OFDI in China.The trade export structure relative index,and then further construct the VAR model and use the impulse response and variance decomposition to dynamically analyze the impact and extent of OFDI on the service trade export structure,and find that there is a time lag in the improvement of the service trade export structure of OFDI.Sex.Finally,in view of the above qualitative and quantitative analysis of the relevant influencing factors,we focus on the more effective relevant policy recommendations from the perspective of OFDI in order to optimize the export structure of service trade.The innovations of this paper are as follows: First,the research content of this paper is relatively new.There are few related studies on the service trade effect of OFDI in China,and the export structure is very small.Secondly,compared with the previous time series analysis,most scholars generally only carry out the Granger causality test.In this paper,in order to further explore the impact and contribution of OFDI on China's service tradeexport structure,the impulse response and Analysis of variance decomposition.