{"title":"Economic Nexus among the Belt and Road Initiative participating countries","authors":"Yiguo Chen , Peng Luo , Tsangyao Chang","doi":"10.1016/j.najef.2025.102403","DOIUrl":null,"url":null,"abstract":"<div><div>The Belt and Road Initiative (BRI) cooperation has created closer economic and trade relations over the past decade. This study analyzes the economic interconnectivity between BRI-participating countries and highlights key findings. The economic links between partner countries have experienced rapid and slow growth, with high connectivity levels. Macroeconomic downturns increase economic connections between countries, with a negative contagion index being higher than a positive. Land-based Silk Road countries have higher connectivity than Maritime Silk Road countries, and China and non-adjacent countries have higher connectivity than China and adjacent countries. Additionally, GDP fluctuations spillover network demonstrate the net transmitters and net receivers in the network, and the transmission channels and directions between each other. Policy-makers should consider these findings for high-quality BRI cooperation.</div></div>","PeriodicalId":47831,"journal":{"name":"North American Journal of Economics and Finance","volume":"77 ","pages":"Article 102403"},"PeriodicalIF":3.8000,"publicationDate":"2025-02-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"North American Journal of Economics and Finance","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1062940825000439","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 0
Abstract
The Belt and Road Initiative (BRI) cooperation has created closer economic and trade relations over the past decade. This study analyzes the economic interconnectivity between BRI-participating countries and highlights key findings. The economic links between partner countries have experienced rapid and slow growth, with high connectivity levels. Macroeconomic downturns increase economic connections between countries, with a negative contagion index being higher than a positive. Land-based Silk Road countries have higher connectivity than Maritime Silk Road countries, and China and non-adjacent countries have higher connectivity than China and adjacent countries. Additionally, GDP fluctuations spillover network demonstrate the net transmitters and net receivers in the network, and the transmission channels and directions between each other. Policy-makers should consider these findings for high-quality BRI cooperation.
期刊介绍：
The focus of the North-American Journal of Economics and Finance is on the economics of integration of goods, services, financial markets, at both regional and global levels with the role of economic policy in that process playing an important role. Both theoretical and empirical papers are welcome. Empirical and policy-related papers that rely on data and the experiences of countries outside North America are also welcome. Papers should offer concrete lessons about the ongoing process of globalization, or policy implications about how governments, domestic or international institutions, can improve the coordination of their activities. Empirical analysis should be capable of replication. Authors of accepted papers will be encouraged to supply data and computer programs.
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