Resources Science ›› 2019, Vol. 41 ›› Issue (4): 613-626.doi: 10.18402/resci.2019.04.01

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Spillover effect of cross-regional direct investment in resource industries in China

LI Cunfang1,2, WANG Wei1,2, DU Shenyue1,2, DONG Mei1   

  1. 1. Business School, Jiangsu Normal University, Xuzhou 221116, China;
    2. Center for Industrial Economy and Enterprise Organization, Jiangsu Normal University, Xuzhou 221116, China
  • Received:2018-10-09 Revised:2019-03-09 Published:2019-04-25

Abstract: The spillover effect of cross-regional direct investment in resource industries is an emerging practical management science issue. Based on the theory of economic statistics and economic growth,this study analyzes the mechanism of spillovers in the intra-industry and inter-industry cross-regional direct investment in resource industries under the influence of the government’s science and technology project funds, using the 1997-2016 data on investments from eastern provinces to Shaanxi Province in the coal industry for the empirical test. The results indicate that: (1) Cross-regional direct investment in resource industries has both industrial spillover effect and inter-industry spillover effect on resource-rich areas in the midwest. (2) Government’s science and technology project funds in resource-rich areas in the midwest have a significant strengthening effect on the intra-industry and inter- industry spillover effects of cross-regional direct investment in resource industries, and the promotion of total factor productivity of local enterprises. (3) The intensity of the intra-industry spillover effect of cross-regional direct investment in resource-rich areas in the midwest is obviously higher than that of the inter-industry spillover effect. (4) Fixed assets investment and labor input have little impact on total factor productivity in resource-rich areas in the midwest. The conclusion of this research may provide a theoretical basis and practical support for regulating the cross-regional direct investment of resource-oriented enterprises and promoting the relevant policies of regional innovation, coordination, sustainable development, and high-quality development.

Key words: resource industry, cross-regional direct investment, spillover effect, total factor productivity, high-quality development, China