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Bulletin of Chinese Academy of Sciences (Chinese Version)

Keywords

outward foreign direct investment(OFDI) reverse technology spillover green total factor productivity(GTFP) channel effect threshold effect

Document Type

Policy & Management Research

Abstract

Innovation plays a leading role in the cultivation of new quality productive forces, with a significant increase in total factor productivity as its core symbol. In the context of China becoming one of the world’s largest outward foreign direct investment (OFDI) countries and green development rising as a national strategy, OFDI reverse technology spillover has become an important way to improve innovation capacity and will have an important impact on green and high-quality development, which is inherently consistent with the cultivation of new quality productive forces. This study uses the super-efficiency SBM model and the ML index to measure the green total factor productivity (GTFP) of 30 Chinese provinces and autonomous regions from 2005 to 2021, then empirically studies the impact of OFDI reverse technology spillover on GTFP and discusses the effect channels. The study reveals several key findings: (1) From 2005 to 2016, OFDI reverse technology spillover from developed countries (regions) significantly increased GTFP. OFDI reverse technology spillovers significantly boosted GTFP in both the EU and the six economic corridor countries from 2005 to 2021. The channel effect indicates that OFDI reverse technology spillovers can enhance GTFP through scientific and technological innovation and industrial structure upgrading. (2) Heterogeneity results indicate that from 2005 to 2016, OFDI reverse technology spillovers from developed countries (regions) promoted GTFP in the eastern and central regions and in regions with low intellectual property protection. From 2017 to 2021, it inhibited GTFP in the western region but promoted it in areas with higher intellectual property protection. The EU group positively impacted GTFP in the eastern, western, and regions with both high and low intellectual property protection. The six economic corridor countries (regions) promoted GTFP in the western region and in regions with low intellectual property protection. Threshold effect indicates a single threshold for investment experience, environmental regulation and technology absorptive capacity for the group of developed countries from 2005 to 2016; the effect is not significant from 2017 to 2021. There is a single threshold for investment experience and technology absorptive capacity and a double threshold for environmental regulation for the EU and the six economic corridor countries. (3) Further analysis reveals that the digital economy and OFDI reverse technology spillover across all sample groups have a positive synergistic effect, increasing GTFP. This study provides valuable policy guidance for encouraging Chinese enterprises to engage in OFDI, helping Chinese provinces formulate differentiated foreign direct investment policies, promoting green and high-quality economic development, and accelerating the cultivation of new quality productive forces.

First page

350

Last Page

361

Language

Chinese

Publisher

Bulletin of Chinese Academy of Sciences

References

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