Reverse Technology Spillovers from Outward Foreign Direct Investment:a Perspective Based on the Domestic Grand Cycle
Based on the panel data of whether Chinese listed companies and their suppliers have foreign direct investment(OFDI)behavior from 2009 to 2013,this paper analyzes the influence of OFDI on do-mestic supplier innovation from a micro perspective.The findings are listed as follows:(1)"Indirect"par-ticipation in outward foreign direct investment(OFDI)can also achieve significant innovative spillover effects,that is,the OFDI activities of clients significantly enhance the innovation levels of their suppliers through the domestic production network;(2)"Indirect"participation in OFDI plays its role through four mechanisms:information transmission effects,economies of scale,enhancement of client importance,and R&D expenditure effects;(3)From the perspective of client-supplier relationships,the stronger the inno-vative spillover effects on domestic suppliers,the closerclients and suppliers are geographically,longer-lasting their relationship is,and lower the client concentration is.From the perspective of enterprise charac-teristics and investment destination countries,larger enterprises,state-owned enterprises,those in regions with low to middle development levels,and investment destination countries with high-income levels show stronger innovative spillover effects through"indirect"OFDI.This study has significant implications for promoting the interlinkage between domestic and international dual cycles and for enterprises to rapidly de-velop new quality productive forces.
domestic production network"indirect"participation in OFDIreverse technology spillo-verenterprise innovation
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万方数据
