Abstract: Affected by the global economic uncertainty factors such as the intensification of reverse globalization and the global spread of COVID-19, the quality of the global value chain must not only consider efficiency, but also stability. This article constructs a quantitative index of global value chain quality that includes efficiency and stability. Based on the world input-output table released by ADB, it calculates the quality and sub-indicator data of 63 countries or regions from 2009 to 2019, and conducts an empirical test on the impact of OFDI on the quality of global value chain of the home country or region and its mechanism. The findings show that the outward foreign direct investment of a country or region has significantly improved the quality of global value chain of the home country or region, the efficiency of the global value chain by sub-indicator, and the stability of global value chain. These are achieved mainly through the three paths, i.e., improving the technological level, optimizing the industrial structures, and expanding the trade scale. The quality promotion effect of global value chain of the home country or region of OFDI from developed countries is more significant. The OFDI from countries or regions with different quantiles has different effects in improving the quality of the global value chain. This research is helpful for the persons concerned to comprehensively and objectively grasp the quality level of countries or regions in the world participating in global value chains, position the development of China, and provide decision-making reference for government departments to enhance the status of international trade and improve the profitability in participating in global value chains.

Key words: outward foreign direct investment, global value chain quality, global value chain efficiency, global value chain stability