CAJ | 학술논문

文章利用2003-2011年中国13个OFDI东道国和29个省份的面板数据，基于CH扩展模型，采用工具变量法，从OFDI投资动机的视角实证考察了技术寻求、资源寻求和市场寻求三类投资动机下的OFDI逆向技术溢出对全要素生产率的影响及区域差异。研究结果表明，积极的OFDI逆向技术溢出效应主要来源于对发达经济体的技术寻求型OFDI，这种效应在中国东、中、西部地区均存在，但中部地区的逆向技术溢出效应要比东、西部明显，来源于资源寻求型和市场寻求型的OFDI逆向技术溢出对全国及东、中、西部地区的全要素生产率均呈负向效应，以上结果是由中国OFDI的投资动机和区位选择决定的。因此，积极鼓励技术寻求型的0FDI，适时从传统的“走出去”战略向“投资技术获取”战略转变是当前中国OFDI的新挑战。
문장이용2003-2011년중국13개OFDI동도국화29개성빈적면판수거，기우CH확전모형，채용공구변량법，종OFDI투자동궤적시각실증고찰료기술심구、자원심구화시장심구삼류투자동궤하적OFDI역향기술일출대전요소생산솔적영향급구역차이。연구결과표명，적겁적OFDI역향기술일출효응주요래원우대발체경제체적기술심구형OFDI，저충효응재중국동、중、서부지구균존재，단중부지구적역향기술일출효응요비동、서부명현，래원우자원심구형화시장심구형적OFDI역향기술일출대전국급동、중、서부지구적전요소생산솔균정부향효응，이상결과시유중국OFDI적투자동궤화구위선택결정적。인차，적겁고려기술심구형적0FDI，괄시종전통적“주출거”전략향“투자기술획취”전략전변시당전중국OFDI적신도전。
From the perspective of investment incentives, based on extended CH model, this paper adopts the instrumental variable method to examine the OF- DI reverse technology spillover effect on TFP and inspect regional difference of this effect under three kinds of investment incentives, namely, technology-seeking, resource-seeking and market-seeking incentives. A sample of 13 hosting countries and 29 sets of provincial panel data over the period 2003-2011 are utilized. The study finds that the positive OFDI reverse technology spillover effect mainly stems from technology-seeking OFDI by developed economies, and this effect exits in eastern, middle and western areas in China, while it is more obvious in middle areas than in eastern and western areas. Besides, resource-seeking and market-seeking OFDI has a negative effect on TFP in all eastern, middle and west- ern areas in China. These conclusions above are determined by investment incen- tives and location choices of China＇ s OFDI. Therefore, the new challenge for China＇ s OFDI is to actively encourage technology-seeking incented OFDI and materialize the transformation from the traditional ＂going out＂ strategy to ＂in- vestment technique-seeking＂ strategy.