OFDI对制造业价值链位置影响研究

Research on the Effect of Foreign Direct Investment on the Upgrading of Manufacturing Global Value Chain

摘要: OFDI (对外直接投资)是我国国际投资的重要组成部分，能够在国际发展格局的整体环境中促进各方良好地互动发展。制造企业通过OFDI能够在全球范围内的国际分工中进行资源优化配置、增强竞争力和开拓市场，利用全球范围内的各种资源，发挥本国比较优势、弥补资源和能力短板。本文基于国内外对OFDI和全球价值链发展的相关研究梳理总结，从逆向技术溢出效应和边际产业转移效应两方面探究其提升制造业全球价值链升级的影响机制。实证部分以2009年~2014年中国对41个贸易国的OFDI和细分制造业的全球价值链分工地位数据样本进行回归分析，通过替代被解释变量、使用解释变量滞后期等方法对基准模型进行稳健性检验，并对模型进行内生性分析处理。得出结论：一、OFDI对我国制造业全球价值链分工地位具有显著正向影响；二、OFDI对于中高技术制造业的全球价值链地位提升影响效应更显著。最后基于理论和实证分析得出的结论提出针对性政策建议。

Abstract: OFDI is an important part of China’s international investment, which can promote good interactive development of all parties in the overall environment of the international development pattern. Through OFDI, manufacturing enterprises are able to optimize resource allocation within the international division of labor, enhance competitiveness, expand overseas markets, and leverage global resources to capitalize on comparative advantages while compensating for domestic resource and capability constraints. Based on a systematic review of the literature on OFDI and global value chain development, this paper examines the mechanisms through which OFDI promotes the upgrading of China’s manufacturing industry in the GVC from two perspectives: reverse technology spillover effects and marginal industry transfer effects. The empirical analysis employs panel data on China’s OFDI to 41 trading partner countries and detailed manufacturing GVC position indicators over the period 2009~2014. Regression analysis is conducted to test the hypotheses. Robustness checks are performed by replacing the dependent variable and introducing lagged explanatory variables, and endogeneity concerns are addressed accordingly. The results indicate that: (1) OFDI has a significantly positive effect on the GVC position of China’s manufacturing industry; (2) The upgrading effect is more pronounced in medium- and high-technology manufacturing sectors. Based on the theoretical framework and empirical findings, corresponding policy implications are proposed.