Influence of the Positive Impact of China's Agricultural OFDI on Agricultural Products Trade in RCEP Countries
With the development of regional economy integration and the agriculture modernization,the role of agricultural outward investment in agricultural product trade is becoming increasingly prominent.Based on the agricultural trade data between China and RCEP countries from 2004 to 2019,the VAR model was used to further analyze the impact of China's agricultural OFDI on agricultural trade among RCEP member countries.The research suggestsd that in the long run,China's outward foreign direct investment in agriculture would give China a sustained positive impact on agricultural trade with other RCEP member countries,and there was heterogeneity in the magnitude of the impact of China's outward agricultural investment on different member countries;China's agricultural OFDI would promote agricultural cooperation and development in RCEP economies.Therefore,it is recommended that powerful agricultural enterprises should actively"go global"and flexibly adjust the foreign investment strategies based on trade conditions to maximize the sustained growth of agricultural product trade in the RCEP economy.
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