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首页> 外文期刊>Technological forecasting and social change >Does technology gap increase FDI spillovers on productivity growth? Evidence from Chinese outward FDI in Belt and Road host countries
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Does technology gap increase FDI spillovers on productivity growth? Evidence from Chinese outward FDI in Belt and Road host countries

机译：技术差距是否会增加FDI溢出效果增长？ 来自腰带和道路东道国的中国外国外国直接投资的证据

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摘要

The Belt and Road Initiative (BRI) is driving the rapid growth of China's outward foreign direct investment (OFDI) across the BRI region. Many BRI host countries, which are developing or underdeveloped in nature, are embracing higher Chinese OFDI in the hope of improving their productivity, trade, and infrastructure. Unlike traditional models, which assumes that foreign investment stimulates productivity growth by generating technological diffusion from the developed world to the developing economies, it is argued that whether China, as a developing country, has sufficient technological capabilities to generate technological spillovers for developing BRI host countries, and what is the role of technology gap to catch up these spillovers. In doing so, this study examines the impact of Chinese OFDI-induced technology spillovers on total factor productivity growth conditional on technology gap between China and BRI host countries. This study employs System Generalized Method of Moments and Feasible Generalized Least Squares estimators and provides two key findings. First, Chinese OFDI increases the productivity growth of BRI host countries; however, the productivity spillovers are lower in magnitude across all specifications. Second, the productivity spillovers from Chinese OFDI decrease with the increase in technology gap, and after a certain threshold, these spillovers become less pronounced.
机译：皮带和道路倡议（BRI）正在推动中国在BRI地区的外国外国直接投资（OFDI）的快速增长。许多正在发展或欠本质的BRI东道国，正在采用更高的中国OFDI，希望提高其生产力，贸易和基础设施。与传统模式不同，这假设外国投资通过从发达国家发展到发展中经济体的技术扩散来刺激生产力增长，有人认为，中国作为发展中国家，中国是否具有足够的技术能力来为发展布里东道国产生技术溢出，技术差距赶上这些溢出效果是什么作用。在此过程中，本研究探讨了中国OFDI诱导的技术溢出对中国与布里东道国技术差距的总因素生产率增长的影响。本研究采用系统广义的矩和可行的广义最小二乘估计方法并提供了两个关键发现。首先，中国OFDI提高了BRI东道国的生产力增长;但是，生产率溢出效率在所有规格中均较低。其次，中国OFDI的生产率溢出率随着技术差距的增加而减少，经过一定的阈值，这些溢出率变得不那么明显。

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