Research On The Impaction Of The OFDI In Japan On Industrial Transformation And Upgrading

Foreign direct investment(hereinafter referred to as OFDI)is an important way of capital for foreign output,on the one hand,a country to develop OFDI use of its comparative advantage,promote the traditional marginal industry to transfer to foreign countries,to improve their economic resources of global liquidity,realize world of sharing resources,optimize the allocation of resources;On the other hand,a country's OFDI development can take advantage of its competitive advantages to acquire relevant technologies and enterprise management experience superior to its own,which is conducive to promoting its economic development,optimizing its industrial structure,and providing impetus for its industrial layout and division of labor.Japan,as a developed country that grew rapidly after the war,has already completed the upgrading of its industrial structure.This paper aims to bring beneficial enlightenment to China's use of OFDI to promote the upgrading to structure by studying the impact of Japanese OFDI on its industrial transformation and upgrading.This paper discusses the theoretical mechanism of OFDI affecting the upgrading of industrial structure in the home country from the perspective of motivation and effect.The motivation perspective can be divided into four aspects: resource-oriented OFDI,market-oriented OFDI,technology-oriented OFDI and strategic asset-oriented OFDI.The effect perspective can be divided into three aspects: industrial transfer effect,industrial association effect and industrial competition effect.The development course of Japan's OFDI is reviewed,which is divided into the initial development stage(1951-1971),the accelerated development stage(1972-1989)and the adjustment and optimization stage(after 1990).Later,measurement software was used to conduct empirical tests on Japan's OFDI data and historical proportion data of the three industries in two stages,and statistical analysis was conducted,including Pearson correlation analysis,ADF unit root test,Granger causality test,OLS multiple regression and robustness test.The conclusions are as follows: First,from the perspective of motivation and effect,the development of OFDI can promote the upgrading of the industrial structure of the home country;Second,from the perspective of Japan's ofDI and industrial structure development,it is characterized by gradual progress,and it is found that the proportion of China's three industries in 2018-2019 is about the same as that of Japan in1968-1973.Third,empirical test shows that OFDI has a high negative correlation with the primary and secondary industries,and a high positive correlation with the tertiary industry.In the transformation and upgrading stage from 1960 to 1989 and the adjustment and optimization stage from 1990 to 2017,OFDI has a positive correlation with Japan's industrial structure.Moreover,when the lag period is 2,OFDI is not the granger cause of the primary and secondary industries,but the granger cause of the tertiary industry.Finally,based on the research conclusions,some enlightenment is proposed on how To use OFDI to promote industrial transformation and upgrading in China.