How do Multinationals Impact China's Technology? The Role of Quid Pro Quo Policy and Technology Spillovers
利用专利数据发现跨国公司在华专利占比高且技术向本土企业转移和溢出，模型量化显示无跨国公司时中国知识存量下降30%，补贴最多可提升实际收入8%。
ABSTRACT Using comprehensive patent data, we document: (1) multinational affiliates and their foreign parent firms comprise a significant portion of patents filed in China; and (2) there are subsequent transfers and spillovers of these technologies to domestic firms. Guided by this evidence, we develop a model of multinational production featuring cross‐country idea flows, transfers, and spillovers. Quantitatively, we find that without multinational production and knowledge spillovers, the idea stock owned by China would drop by 30%. Furthermore, due to the externalities of multinationals through technology transfers and spillovers, subsidizing multinationals will at most increase real income by 8% in China.