AN EMPIRICAL STUDY ON CHINA'S INDUSTRIAL MARKET SPILLOVERS EFFECTS OF FOREIGN DIRECT INVESTMENT

摘要

Based on the literature, this paper proposed the conception of market spillovers, which was neglected by researchers. As a result, this paper formed an analytical framework with market structure as its core, and we explored the generation mechanism of the spillovers effects. Then this paper studied the dominant factors of market spillovers. These dominant factors include capital deepening, profitability and market concentration. Based on the initial exploration of the theory, this paper also constructs an incremental regression model and attempts to analyze the dominant factors in the market spillovers effects. Empirical results show that the dominant factors have significant impacts on market spillovers overall and play different roles in different industries.