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| The Influence of Two-way FDI Coordination on Provincial Innovation: Increasing “Quantity” or Improving “Quality” |
| Chen Huaichao,Tian Xiaoyu,He Zhimin |
| (College of Economics and Management, Taiyuan University of Technology, Taiyuan 030024, China) |
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Abstract As the important ways of “bringing in” and “going out”, IFDI and OFDI have become the important international technology transfer channels to promote provincial innovation. Although some scholars have brought IFDI and OFDI into the research framework at the same time to examine their influences on provincial innovation respectively, they have ignored the coordinating effect of two-way FDI. The existing literature has not yet explored the relationship between two-way FDI coordination and provincial innovation, let alone distinguishing the types of provincial innovation and examining the influence of two-way FDI coordination on provincial strategic innovation and substantive innovation. In view of this, this study classifies provincial innovation into strategic innovation and substantive innovation. It then uses the panel data of 30 provinces in mainland China from 2010 to 2020 to explore the influence of two-way FDI coordination on provincial innovation and the regional heterogeneity of this influence, and analyzes the moderating effect of intellectual property protection and the mediating effect of provincial absorptive capacity in the process of two-way FDI coordination influencing provincial innovation.#br#It is found that firstly, two-way FDI coordination has a significant positive influence on provincial strategic innovation, but has no significant influence on provincial substantive innovation, that is, it has an effect in increasing the quantity rather than improving the quality of provincial innovation. Secondly, two-way FDI coordination has significant promoting effects on strategic innovation in both coastal and inland regions. Two-way FDI coordination significantly promotes substantive innovation in coastal regions, but has no significant influence on substantive innovation in inland regions. Thirdly, intellectual property protection enhances the influence of two-way FDI coordination on provincial strategic innovation. Fourthly, provincial absorptive capacity has a partial mediating effect in two-way FDI coordination influencing provincial strategic innovation.#br#The theoretical contributions of this study include four aspects. Firstly, from the perspective of coupling coordination, it examines the influence of two-way FDI coordination on provincial strategic innovation and substantive innovation, expanding the relevant study of provincial innovation under the background of “bringing in” and “going out”. Secondly, from the perspective of regional difference, this study examines the influences of two-way FDI coordination on provincial innovation in different regions, and deepens the study in the field of international direct investment. Thirdly, it verifies the situational effect of intellectual property protection in two-way FDI coordination influencing provincial strategic innovation, which expands the integration study of intellectual property protection and two-way FDI coordination in provincial innovation. Fourthly, by clarifying the path effect of provincial absorptive capacity in two-way FDI coordination influencing provincial strategic innovation, this study provides a new perspective to reveal how two-way FDI coordination influences provincial innovation.#br#The following suggestions are proposed. Firstly, relevant departments should build a platform for the coordinating development of IFDI and OFDI, and integrate the two forces of two-way FDI to effectively promote provincial strategic innovation and ensure the development of provincial substantive innovation. Secondly, they should guide the rational allocation of two-way FDI between different regions through preferential tax policy and financial subsidies and so on. The coastal regions should continue to promote IFDI and OFDI with its geographical advantages to enhance its strategic and substantive innovation levels, and the inland regions should expand the scale of two-way FDI, raise the awareness of independent innovation, and make use of the latecomer advantages to speed up the development of substantive innovation. Thirdly, relevant departments should improve the intellectual property protection institution to enhance the provincial attractiveness to high-quality foreign investment, and stimulate the power for the province to learn advanced technology and carry out secondary innovation in the OFDI process, so as to promote the development of provincial strategic innovation. At the same time, they should adjust intellectual property protection degree to ensure the promoting effect of two-way FDI coordination on provincial substantive innovation, and provide institutional guarantee for high-quality innovation activities. Fourthly, it is necessary to increase investment in human capital, optimize the provincial talent structure and promote the development of provincial strategic innovation by improving provincial absorption capacity. In addition, relevant departments should strengthen the cooperation among enterprise, university and research institution to cultivate innovative talents together, improve provincial absorption capacity, ensure the province to enhance knowledge accumulation in two-way FDI, and conduct high-quality innovation activities to ensure the development of provincial substantive innovation.#br#
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Received: 05 May 2022
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