"Genuine"FDI Technology Spillover Effects in China and India:A Study Based on Comparative Meta Regression Analysis
High-quality attraction and utilization of foreign direct investment(FDI)have always been a significant topic for the economic devel-opment of emerging market countries.Based on a meta-analysis framework,this paper conducts an in-depth comparative study of the"re-al"FDI technology spillover effects and influencing factors in China and India,two major emerging market economies,drawing on 39 Chi-nese and 22 Indian sample literatures.The findings indicate that,firstly,basic meta-analysis reveals that generally there is a serious pres-ence of Type Ⅰ and Type Ⅱ publication biases across the relevant existing literature,with the publication bias for Indian literature being more pronounced than that for Chinese literature.Secondly,after correcting for publication bias,the results show that the horizontal tech-nology spillover from FDI in China(0.005)is smaller than that in India(0.016),while the vertical spillover in China is 0.027,and the vertical spillover effect in India is not significant.The results from various meta-analytic methods remain robust.Thirdly,multivariate me-ta-analysis results suggest that the estimated values of FDI technology spillover effects are influenced by a variety of factors,including da-ta,models,and enterprise features.Combined with the results of synthetic practices,it is further verified that the different market orienta-tions of FDI enterprises are an important reason for the differences between China and India.This study not only provides a systematic ap-plication of meta-analysis practice,which is beneficial for addressing the widely observed"puzzle"of FDI technology spillover effects in academia,but also offers valuable policy insights for emerging market countries to utilize high quality FDI.
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