| Developed countries integrate resources globally to build production networks,countries participate in the international division of labor by virtue of their comparative advantages in specific production links.On this basis,Buyer-driven or Producer-driven Global Value Chains dominated by large international buyers or multinational companies has been formed.Since the reform and opening up,China undertook the transfer of labor-intensive production links with the demographic dividend and resource endowment advantage,and the processing trade has developed rapidly.China has realized process upgrading and product upgrading through imitation and innovation,but the phenomenon of "mystery of low mark-up rate" has appeared meanwhile.Since the 2008 financial crisis,developed countries have put forward the "reindustrialization strategy" to cope with the hollowing out of their own industries,while other developing countries have attracted the further transfer of international industries by improving production and manufacturing capacity and low cost advantages,China faces the situation of "high-end’s backflow" and "low-end’s shunting" in participation of international division of labor.In this context,promoting "One Belt and One Road" initiative helps to complement industries among countries,and break through the state of being captured by big international buyers and multinational companies.Moreover,the construction of "Five Links" is directly or indirectly related to institutional factors such as market environment,government efficiency and rule of law,therefore,this paper will focus on how the institutional quality affects the embedding in Global Value Chains in "One Belt and One Road" countries,whether there are spatial spillovers,and whether the influence varies with different value chains driving models.Based on the review of relevant theories and existing research results,industrial heterogeneity is included in the discussion of Global Value Chains.First of all,under the“binary drive” model,the mechanism of both direct influence and spatial spillover of the institutional quality to the embedding in Global Value Chains are reviewed.Secondly,Producer-driven Global Value Chains position and Buyer-driven Global Value Chains position using the method based on the production chains length,and the institutional quality from political,economic and legal levels using the TOPSIS method are measured.Finally,set up four kinds of spatial weight matrices,namely geographical distance matrix(W1),economic distance matrix(W2),nested matrix(W3)and geographic economic distance matrix(W4).Based on spatial autocorrelation analysis,the influence of institutional quality on Producer-driven Global Value Chains position and Buyer-driven Global Value Chains position is empirically tested by the spatial Dubin mode.The results show that:(1)The significant positive spatial autocorrelation exists in the institutional quality,Producer-driven Global Value Chains position and Buyer-driven Global Value Chains position of "One Belt and One Road" countries,and the results are valid under the four spatial weight matrices;(2)Embedding in Global Value Chains has negative spatial spillover effect under both the Producer-driven and Buyer-driven value chains driving modes.The institutional quality has a negative direct impact and a positive spatial spillover effect on Producer-driven Global Value Chains position in "One Belt and One Road"countries.The interaction term of human capital and institutional quality has no significant effect on improving the upstream degree of domestic Producer-driven industry,but has a significant negative effect on neighboring countries.The direct influence and spatial spillover of both institutional quality,and the interaction term of human capital and institutional quality on Buyer-driven Global Value Chains position are opposite.(3)The subsample regression is conducted from three aspects: the comparative advantage position between Producer-driven Global Value Chains position and Buyer-driven Global Value Chains position,the relative institutional quality level,and distinguish "One Belt and One Road” countries and other countries.The results show that all of institutional quality,the interaction term of human capital and institutional quality,the spatial lag term of the two variables,and the spatial effect coefficient exist heterogeneity.In countries along "One Belt and One Road",it is more in line with their own interests to improve the Buyer-driven value chains by developing institutional quality when having the dominant Producer-driven model and high institutional quality,it can also weaken or even reverse the negative spatial spillover effect on neighboring countries to some extent.(4)Institutional quality cannot simultaneously upgrade the domestic Producer-driven and Buyer-driven value chains.China is one of the countries along "One Belt and One Road" with the relatively dominant Producer-driven model and low level of institutional quality,and is generally more suitable for developing Buyer-driven value chains,which is also consistent with Chinese huge local market capacity.According to the research conclusions of this paper,the following policy recommendations are put forward:(1)To fully consider the industrial heterogeneity and take the leading links in the value chains as the wind vane of industrial upgrading.Industrial value chains upgrading paths will vary due to factor intensity etc.,therefore,countries should classify and identify effective factors affecting value chains upgrading based on the actual characteristics of various industries,so as to promote Producer-driven and Buyer-driven industries to move up and down the value chains respectively.(2)Comprehensively considering domestic and international factors,select and develop Producer-driven or Buyer-driven industries dynamically by distinguishing priorities and priorities.Countries should take the current dominant drive pattern value chain,the relative level of institutional quality,factor endowment and other factors into account,and develop the key value chains driving model.(3)Deepen industrial correlation and integration,use digital economy to develop new industrial forms and models,innovate the supply chains system,optimize resource allocation,and connect production links efficiently;(4)Promote institutional reform to adapt to the new development pattern.To connect domestic system with international trade and investment rules,international economic and trade system,make use of both domestic and international markets and resources fully,get rid of the excessive dependence of Chinese technology market on developed countries,break through the capture network,and implement the evolution strategy from Domestic Value Chains to Global Value Chains;(5)Focus on the construction of "Five Links",notice changes in the international division of labor closely,deepen production capacity cooperation in depth and breadth,restructure Global Value Chains,and raise the level of regional value chains cooperation among "One Belt and One Road" countries. |
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