The Impact Of Green Technology Spillover From China’s OFDI On GVC Upgrading

Since the Belt and Road Initiative was proposed in 2013,economic and trade relations between Countries along the Belt and Road and China have attracted much attention.It has been nearly 10 years since the Belt and Road Initiative was put forward.During this period,China has become increasingly close to the countries along the Belt and Road,and its investment in these countries has gradually expanded.China’s foreign direct investment(OFDI)play a positive green technology spillover effect,not only good for the greatest degree of countries along the technology spillovers,the value chain of the cooperation of countries along the ascension status,reconstruct the possible path of value chain,but also conducive to the exchanges between China and countries along,friendly form of multi-party participation,cooperation and win-win situation.Therefore,analyzing whether China’s OFDI’s green technology spillover plays an important role in enhancing the status of countries along the GLOBAL value chain,and studying this content has important theoretical significance and practical value for the construction of a community of shared future for mankind and the realization of bilateral win-win situation.First of all,based on the existing literature,this paper interprets and summarizes the literature related to OFDI’s green technology spillover and GVCS in countries along the belt and Road,and makes a summary review.Secondly,by collecting and sorting out the input-output data and using de A-Malmquist index to analyze the input-output data,this paper calculates the green total factor productivity of China’s direct investment in countries along the belt and Road from 2007 to 2019(the data is only updated to 2019 due to the impact of the global epidemic).Firstly,on the whole,the green total factor productivity of some countries along the Belt and Road is greater than 1,achieving positive growth.Second,in terms of regional and development conditions,Compared with Europe and developed countries,Asian countries and developing countries have a higher level of green technology spillover from China’s OFDI.Then,this paper calculates the participation and status of the countries along the "Belt and Road" global value chain.Firstly,the forward and backward participation of the global value chain are collected and sorted out through UIBE GVC Index database to get the participation and status of the countries along the "Belt and Road" global value chain.From the overall level,regional level and national development level,the participation and status of GVCS are ranked in order,and the following conclusions can be drawn: first,on the whole,the status and participation index of GVCS of most countries have increased;Secondly,from a regional perspective,compared with Asia and developing countries,The status and participation index of European countries and regions in GVCS has improved more.Thirdly,this paper conducts an empirical analysis on the impact of OFDI’s green technology spillover on the global value chain status of countries along the belt and Road.First,unit root test is performed on panel data to ensure that there is no false regression and the panel data is stable.Then,the panel data are co-integrated to confirm the stable relationship between GVC position and each explanatory variable.Secondly,the linear regression model is used for hierarchical regression,and it is concluded that the coefficient of green technology spillover in China’s OFDI is significantly positive,indicating that OFDI’s green technology spillover can significantly improve the global value chain status of countries along the belt and Road,which is conducive to the upgrading of the global value chain of countries along the Belt and Road.Next,through heterogeneity test,sub-samples are classified according to region and development status,and the following conclusions are drawn:Compared with European countries and developed countries,green technology spillover of China’s direct investment to Asia and developing countries is more conducive to the upgrading of global value chain of countries along the Belt and Road.Finally,in order to ensure that the conclusion is reliable,the article has carried on the robustness test,by changing the sample period and replace the key variable of panel data to benchmark return,it is concluded that China’s OFDI green technology spillover can significantly promote the countries along the "area" of the global value chain upgrade,to illustrate the results of the regression analysis of the sound,The resulting content is reliable.Finally,the paper summarizes the main research conclusions and gives reasonable political suggestions: increase investment with countries along the Belt and Road,encourage enterprises to go global;Optimizing trade structure and building a regional value chain led by Chinese industry;Independent research and development and the cultivation of human capital lay the foundation for independent innovation;Create a sound economic and institutional environment.