Analysis of the Impact and Effect of OFDI on China's Economic Security——An Empirical Test Based on Multiple Mediation Effect Models
Outward foreign direct investment(OFDI)will have an impact on economic security of a home country through industrial reconstructuring,factor allocation change and reverse technology spillover effects.Based on the provincial panel data from 2003 to 2022,this paper constructs and measures indicators of China's economic securi-ty level.Three intermediary indicators,namely,technology spillover effect,industrial structure,and economic lev-el,are also constructed to analyze the multiple intermediary effects of OFDI on the path of China's economic secu-rity level.The study finds that OFDI has an enhancing effect on economic security level,the intermediary effect of industrial structure upgrading and reverse technology spillover effect exists between OFDI and economic security.It also finds that the strength of government intervention has a significant heterogeneity in the relationship between OFDI and economic security level.The mediating effect of weak intervention regions has a significant promoting effect,while the mediating effect of strong intervention regions is negative,inhibiting the promotion of economic security level by OFDI.
outward foreign direct investmenteconomic securitymultiple mediating effectsregional heterogene-ity
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