Research On The Mechanism And Effect Of The Interactive Development Of China's Service Export And OFDI

Export and OFDI are two important ways for China's service industry "going out",and they are also the only way to improve the development level and quality of service.Throughout the external development process of China's service industry and combing the existing relevant literature,it is found that there is a significant interaction between service exports and OFDI.What is the interactive development relationship between service exports and OFDI? How does service industry productivity affect exports and OFDI,and how does its productivity affect the interaction between exports and OFDI? It is of great theoretical and practical significance to deeply explore the interactive development of the export and OFDI,so as to promote the high-level and high-quality development of the service industry and maintain the positive interactive development of exports and OFDI.This article summarizes the relevant literature from three aspects: the effect of export to OFDI,the impaction of OFDI to export,and the interactive development relationship.Based on the existing research,export,OFDI and productivity are placed in the same level of theoretical system.This study examine the interactive development of service export and OFDI and the impaction of productivity on the interactive relationship.The empirical research based on the China's inter-provincial panel data from 2007 to 2017,and the 3SLS estimation method was used to verify the interactive relationship and interactive development direction between exports and OFDI.The sub-samples are examined to test the heterogeneous performance of interactive development.Furthermore,this study analyze the impact of productivity on interactive development.The empirical research results in this article show:(1)There is indeed an interactive relationship between China's service exports and OFDI,and the direction of interaction is positive.(2)The significant positive interactive development relationship between exports and OFDI is established in areas with high levels of service industry openness and low development level,and positive interactive development exists in areas with low openness of service industry,but the level of significance is lower.(3)Productivity has a weakening regulatory effect on the interactive development of exports and OFDI.(4)The negative adjustment effect of productivity is established in the sub-sampled regions with high levels of service industry openness and high levels of service industry development.There is a weakening effect but not significant in areas with low service industry openness and low productivity levels.(5)The mediating effect of productivity on OFDI to export is significantly negative,and the mediating effect of export to OFDI is also negative,but the later has not passed the significance test.(6)The negative intermediary effect of productivity in OFDI affecting exports is significant in samples with a high degree of openness and high level of development of the service industry,and the negative intermediary effect of productivity in OFDI models on exports is significant in samples with low levels of development.Based on the full text analysis and research conclusions and combined with the actual situation,this article finally puts forward targeted policy recommendations,which are of great significance and role in promoting the "going out" of China's service industry and the benign interactive development of exports and OFDI.