中国对外直接投资逆向技术溢出效应研究——基于Malmquist指数和我国行业面板数据的实证研究

The Reverse Technology Spillover of OFDI——An Empirical Analysis Based on the Malmquist Index and Industry Dynamic Panel Date From China

本文利用2004-2011年我国行业的面板数据，用非参数的Malmquist指数的方法测算中国八大行业的全要素生产率，通过GMM方法分析我国对外直接投资传导的国际研发存量和我国的研发存量以及两者的交互项对这8个行业的全要素生产率的影响，以便了解对外直接投资的逆向技术溢出效应。实证结果表明：现阶段国内各相关行业通过对外直接投资途径传导的国外逆向技术有一定的溢出效应，但对技术进步的影响并不显著；只有在国内研发和其他方面的投入跨越一定的门槛值后，才能使我国对外直接投资产生逆向技术溢出效应。

After estimating the total factor productivity by using China＇s eight industries panel data with the Malmquist index non - parametric method from 2004 to 2011, this paper studies that how international R＆D stocks are interacted via Chinese overseas foreign direct investment （OFDI） with domestic R＆D and tries to explore ff there exists any OFDI＇s reverse technology spillover back to China. The empirical results show that the international R＆D has a certain effect on the related industries through OFDI, but it is not significant to affect the technical advance. Only the domestic R＆D and other investments cross a certain threshold can affect the OFDI＇s reverse technology spillover.