The Impact of Two-way FDI on Inter-industry Coordination and Industrial Transformation and Upgrading——An Empirical Analysis Based on the Development of Digital Economy
Based on the panel data of 30 provinces in China(except Xizang)from 2011 to 2022,this paper analyzes the influence of foreign direct investment(FDI)and outward foreign direct investment(OFDI)on inter-industry coordination,industrial transformation and upgrading and the regional differences.It also constructs the development index of digital economy to analyze its influence and mechanism on inter-industry coordination and industrial transformation and upgrading effect of FDI and OFDI.The results show that FDI and OFDI in China can significantly promote the inter-industry coordination,but their interaction terms can also significantly inhibit it.FDI and OFDI in China have a significant inhibitory effect on industrial transformation and upgrading,but their interaction terms have a significant promoting effect.The development of digital economy can influence the inter-industry coordination and industrial transformation and upgrading effect of FDI and OFDI through five major mechanisms:demand effect,supply effect,technology spillover effect,reverse technology spillover effect and natural resource effect.This study has certain enlightenment on how to promote the positive impact of two-way FDI on industrial structure in the digital era,and provides a new perspective for the formulation of investment attraction and investment policies in China.
foreign direct investmentourward foreign direct investmentdevelopment of digital economyinter-in-dustry coordinationindustrial transformation and upgrading
NETL
NSTL
万方数据
