Impact Of OFDI Reverse Technology Spillover On China’s Green Total Factor Productivity

In the "14th Five-Year Plan" proposal,China pointed out that it is necessary to "implement the new development concept of innovation,coordination,green,openness and sharing",promote green development,and promote the harmonious coexistence of man and nature.The key to achieving green development is the improvement of Green Total Factor Productivity(GTFP).In the research on the relevant factors that promote the growth of GTFP,the reverse technology spillover effect of Outward Foreign Direct Investment(OFDI)is an important factor that cannot be ignored.Therefore,it is of great practical significance to study whether the reverse technology spillover of OFDI can promote green total factor productivity and then promote China’s green development.By using the Directional Distance Function and the Malmquist-Luenberger index,this paper calculates the GTFP of 30 provinces,municipalities and autonomous regions in China from 2005 to 2017,and uses the two-stage least squares method to analyze the relationship between OFDI reverse technology spillover and green total factor productivity.An empirical study was carried out on the relationship.The empirical results show that:(1)OFDI reverse technology spillover can significantly promote the growth of China’s GTFP.In terms of regions,OFDI reverse technology spillover in the eastern region has a significant role in promoting GTFP,but the promotion effect on GTFP in the central and western regions is not significant.(2)The reverse technology spillover of OFDI from developed countries has significantly promoted the growth of China’s GTFP.The development of different regions has also significantly promoted the growth of GTFP in the eastern,central and western regions.Among them,the promotion effect of GTFP in the eastern region is the largest,and the promotion effect in the western region is the least.(3)The reverse technology spillover of OFDI from developing countries has a negative effect on the GTFP in the eastern,central and western regions.This paper believes that this is related to the different investment motives for developed countries and developing countries in different regions.OFDI for developed countries is more motivated by technology seeking,so it can exert a positive reverse technology spillover effect of OFDI.The differences in development level and absorptive capacity among regions lead to differences in the reverse technology spillover effect of OFDI among regions.Accordingly,it is believed that China should further expand the scale of OFDI for developed countries,optimize the investment structure for developing countries,and encourage technology-seeking OFDI,so as to give full play to the positive reverse technology spillover effect of OFDI.At the same time,the leading role of the eastern region should also be brought into play to promote coordinated regional development and promote the common improvement of the green development level and technological level of each region.