The Impact of Global Value Chain Reconstruction on the Innovative Latitude High-Quality Development of Reverse OFDI in China—From the Perspective of Jiangsu Province

Chuanrong Huang () and Xiyue Zhu
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Chuanrong Huang: Wu Jinglian School of Economics, Changzhou University, Changzhou 213159, China
Xiyue Zhu: School of Business, Changzhou University, Changzhou 213159, China

Sustainability, 2024, vol. 16, issue 16, 1-25

Abstract: Based on the current unpredictable patterns of globalization and the impact of the COVID-19 pandemic, global value chains (GVCs) are undergoing restructuring. The resolution of the 20th Communist Party of China National Congress emphasizes high-quality development and the “going out” strategy. It highlights the crucial role of global value chain reconstruction in driving the high-quality development of outward foreign direct investment (OFDI). Innovation is crucial in reaching this high-quality development objective. This study uses Jiangsu Province in China as a case study to estimate the relationship between the innovative direction of the high-quality development indicator score system for Jiangsu Province’s reverse OFDI and global value chain restructuring from 2007 to 2021. The findings indicate that global value chain restructuring has a suppressive effect on the innovative direction of high-quality development in Jiangsu’s reverse OFDI. Additionally, further heterogeneity analysis reveals that urbanization levels mitigate the negative impact of global value chain restructuring on the innovative direction of high-quality development in Jiangsu’s reverse OFDI.

Keywords: OFDI; innovation; high-quality development; global value chain reconstruction (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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