Bilateral Value Chain Linkage:The Different Role of FDI and OFDI in China
For a quite long time,"bringing in"has been an important way for China to participate in the global value chain.At present,China's development of opening-up has shifted from the"bringing in"to a new stage where both"bringing in"and"going out"are both emphasized.So,from the perspective of participating in the global value chain,what is the difference between the two ways?Based on theoretical analysis,this pa-per constructs bilateral value chain linkage index between China and 63 partner countries from 1995 to 2018,and uses the two-way fixed effect model to conduct empirical analysis.The findings of the research are as fol-lows.First,"bringing in"and"going out"will both help to increase the overall value chain linkage;Second,from the perspective of specific linkage methods,the backward value chain linkage effect of"bring in"and the forward value chain linkage effect of"going out"are obvious;Third,when it comes to the mechanism,inter-mediate goods trade is important mechanisms for the value chain linkage effects.The findings of this paper not only provide empirical evidence for the significance of shifting to both"bringing in"and"going out",but also have important policy implications for exploring countermeasures for forming a new pattern of higher-level open-ing up.
FDIOFDIbilateral value chain linkageglobal value chain
万方数据
维普
