Research On The Impact Of OFDI Reverse Technology Spillover On China’s Industrial Structure Upgrading

In recent years,China’s OFDI has developed rapidly.In 2020,OFDI flows reached 153.71 billion dollars,ranking first in the world for the first time.Meanwhile,China’s industrial structure is also changing constantly.By exploring the reasons behind it,it is found that the corresponding technology spillover can be obtained through OFDI,thus driving the adjustment of domestic industrial structure.Therefore,it is necessary to explore how the reverse technology spillover obtained through OFDI affects the upgrading of industrial structure.This article first elaborated the foreign direct investment in theory of reverse technology overflow effect on industrial structure upgrade mechanism,namely the investor in the company through foreign direct investment technology spillovers,absorbed through learning will improve the technical level,after passing will improve the level of industry and technology in the country,so as to enhance the level of overall production and improve the allocation of resources,Finally bring the optimization and upgrading of industrial structure.Secondly,based on the inter-provincial panel data of 31 provinces(cities)in China from 2003 to 2020 as data samples,the reverse technology spillover regression model of OFDI is constructed according to C-H model and L-P model to verify the reverse technology spillover effect of China’s OFDI.This paper analyzes its influence on industrial structure upgrading from the aspects of foreign direct investment level,domestic R&D capital stock,R&D level,human capital level and financial development level.Considering the different absorbability of fdi reverse technology spillovers,human capital level and financial development level are set as threshold variables,and single threshold regression and multiple threshold regression are carried out to analyze the threshold value that affects the upgrading of industrial structure.The results show that: from the perspective of all samples,the upgrading of China’s industrial structure at present mainly depends on the level of human capital,foreign direct investment and financial development,but the technology spillover of foreign direct investment will also significantly promote the upgrading of industrial structure;From the sample point of view,in different regions of China,the impact OFDI reverse technology spillover on the upgrading of industrial structure is different,and the central region is the main area that has positive impact.According to the threshold regression model,both human capital level and financial development level have double threshold effects.When the regional index falls within a certain threshold value range,the reverse technology spillover of OFDI will promote the upgrading of industrial structure.