This paper investigates the influence of foreign direct investment on innovation by em-ploying the panel cointegration method incorporating multiple structural breaks and a dynamic common correlated estimation for 34 countries over the period 1991-2016. Our findings indicate that the series of innovation and foreign direct investment are stationary after considering the potential structural breaks and that the external shock is mainly from country-specific shocks. Our results also suggest that a long-run co-integrated relationship exists with one break between foreign direct investment and innovation. Furthermore, the estimation based on the dynamic common correlated estimation shows that foreign direct investment has a long-run significant positive influence on technological innovation. Our findings shed light on the importance of accounting for structural breaks when discussing the relationship between foreign direct investment and technological innovation.

中文翻译：

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外商直接投资对国内创新的影响：基于结构性断裂的调查

本文通过采用1991年至2016年期间34个国家/地区的面板协整方法，该方法结合了多个结构性突破和动态通用相关估计，研究了外国直接投资对创新的影响。我们的发现表明，在考虑潜在的结构性断裂之后，一系列创新和外国直接投资是固定的，外部冲击主要来自于特定国家的冲击。我们的研究结果还表明，存在长期的合作关系，而外国直接投资与创新之间只有一次突破。此外，基于动态共同相关估计的估计表明，外国直接投资对技术创新具有长期的显着积极影响。