Foreign Direct Investment(FDI) and Outward Foreign Direct Investment(OFDI) are two channels of international R&D spillovers. Based on the data during the period of 1985-2008 in China, the relationship among FDI, OFDI, and technological progress in China is estimated by using the cointegration theory and vector error correction model.The empirical results reveal that international R&D through FDI has significantly promoted China's total factor productivity, however international R&D through OFDI has very weak spillovers on TFP. The reason for that is that the scale of OFDI is limited, the proportion of technology sourcing OFDI of China is too small, and China's absorptive capability is too weak.
Key words
FDI /
OFDI /
technological progress
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