Abstract
This paper calculates the technical complexity of high-tech industry export in 38 countries from 1997 to 2017, discusses the mechanism of OFDI on the technical complexity of high-tech industry export in the home country, and empirically tests the impact of OFDI on the technical complexity of high-tech industry export in the home country by using the System GMM method of dynamic panel data model. The results show that OFDI can improve the technical complexity of high-tech industry export in the home country. After further analysis, it is found that OFDI can only significantly improve the technical complexity of high-tech industry exports from developing countries, but to a certain extent inhibit the developed countries. In addition, FDI, R & D investment, human capital, openness to the outside world and self owned technology can promote the export technology complexity of a country’s high-tech industry, while the impact of capital endowment on the export technology complexity of developed and developing countries’ high-tech industry is different.
Highlights
China has been deeply aware that innovation is the core power to drive development
This paper studies the influence of outward foreign direct investment (OFDI) on the export technology complexity of high-tech industries in a country, to enrich the study on the export technology complexity of specific industry of a country, and expand the scope of factors that affecting the export technology level of hightech industries
In order to realize a stable estimation, and according to formula (5) and (6), three combinations of statistics from sample countries, developed countries and developing countries were analyzed, and static panel data model OLS and dynamic panel data model System GMM are used as the Varialbs lnexpy lnFDI lnFDI E lnHR lnTL lnK/L lnR
Summary
China has been deeply aware that innovation is the core power to drive development . A large number of studies at home and abroad have indicated that the improvement of export commodities’ technical content plays a significant role in the economic growth of a country. Since Rodrik (2006), Herzer and Nowak (2006) found out that what matters the most for a country’s long-term sustainable economic growth is the quality and technological structure of export, scholars have began to pay attention to study on export technology complexity. The export technology level of the high-tech industry is the most representative of that of a country. Among various influential factors, the influence of outward foreign direct investment (OFDI) on the export technology structure of a country cannot be ignored. Will foreign investment of such a large scale be able to improve each country’s high-tech industry export technology level? Will foreign investment of such a large scale be able to improve each country’s high-tech industry export technology level? What’s more, there exist differences between developed countries and developing countries in their OFDI momentums, so OFDI has different effects on technological progress of
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