【摘要】 在全球价值链中，相对于价值链分工地位，各国在其中的结构性权力更能直接地反映出各国在全球价值链中所掌握的主导权。本文从中国的全球价值链参与及对外直接投资活动出发，基于联通网络方法研究了中国价值链结构性权力优势对中国跨境直接投资溢出的影响。本文发现中国在全球价值链中的结构性权力不断增强，在国际跨境直接投资网络中的中心地位特征日益显著。而且，中国在全球价值链中的相对优势会给东道国带来更大的对外直接投资冲击溢出，这种影响对金融市场开放程度更高，与中国地理距离、制度距离更远，以及中高技术产出比例较高的国家和地区更为明显。本文研究同时将中国视作全球价值链中的主体和国际跨境直接投资母国，从全球价值链布局，以及合理调整对外直接投资结构与规模的角度，为实现“双循环”新发展格局提供了理论与经验证据。更多还原

【Abstract】 Compared with the Global Value Chain(GVC)position index, the structural power directly reflects the dominant position held by each country in the GVC.Focusing on China’s participation in the global value chain and its cross-border Outward Foreign Direct Investment(OFDI)activities, this article explores the impact of China’s structural power advantage in the global value chain on China’s overseas direct investment spillover effects from a network perspective.This article finds that China’s structural power in the global value chain is constantly increasing, with a relatively central position in the international direct investment network.Furthermore, this article discusses how China’s relative advantage in the global value chain will bring greater OFDI spillover impacts to host countries, with this impact being more evident for countries with a higher degree of financial openness, further distance from China geographically and institutionally, and higher proportion of medium and high-tech production.This article considers China as both a major participant in the global value chain and a home country for international cross-border direct investment, providing theoretical and empirical evidence for maximizing China’s interests from the perspective of value chain layout and rational adjustment of the structure and scale of OFDI.更多还原