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Facts and Mechanisms on How ODI Affects China蒺s
Economic Growth Quality

1, 2 1
KONG Qunxi & WANG Ziqi
(1郾 Research School of Industrial Development, Nanjing University of Finance & Economics, Nanjing, Jiangsu 210003, China;
2郾 School of Management & Engineering, Nanjing University, Nanjing, Jiangsu 210003, China)

Abstract: With the challenge from the new pattern of international trade in the world and the domestic transformation of eco鄄
nomic development mode, it is a new way for the high鄄quality development to seek how to use the scale advantage of China蒺s ODI
to help improve the quality of economic growth. Based on the enterprise data at the micro level, taking the ODI reverse technology
spillover effect into account, this paper constructs models to deeply explore its impact on the quality of economic growth. The re鄄
search shows that: (1) The ODI of enterprises can promote the development of quality economy in China, especially remarkable
in the efficiency and sustainability of economic growth; (2) The positive effect of ODI on the economic growth quality has a time
lag effect, that is, it should take time for ODI reverse technology spillover effect to work; (3) The high economic level of the host
country, the small number of enterprise branches, and the enterprises engaged in trade sales business will promote the quality,
efficiency and sustainability of China蒺s economic growth, but with no ideal effect of ODI on stability; (4) The expansion of ODI
scale can improve the human capital level and R&D intensity of domestic enterprises, prevent the technology gap from widening,
and significantly improve the quality of China蒺s economic growth through the mediating effect of these variables.
Key Words: overseas direct investment ( ODI); economic growth quality; “ Belt and Road冶 Initiative; tendency score
matching; heterogeneity test; mediation effect
(本文责编摇 王摇 轶)

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