{"title":"The Impact of the Belt and Road Infrastructure Development on the Economic Growth of the Partner Countries","authors":"Zhihua Chen","doi":"10.1177/09749101231167454","DOIUrl":null,"url":null,"abstract":"As of July 2022, China has signed more than 200 cooperation agreements on the Belt and Road Initiative (BRI) with 149 countries and 32 international organizations. This research aims to explore the impact of the infrastructure development of this initiative on the economic growth of countries participating in the BRI. Based on the panel data of 130 participating countries and 46 other countries from 2006 to 2019, the difference-in-difference (DID) model and multiple robustness tests were used for empirical evaluation. We found a positive correlation between BRI and the economic growth of BRI-cooperating countries. The heterogeneity test results show that BRI has a more prominent role in promoting the economic growth of upper-middle-income and high-income countries with relatively good industrial foundations. The impact of improved infrastructure development through BRI accounted for 88.42% of the total mediating effect, which is much more significant than promoting industrial upgrading and enhancing innovation capacity. These results support the view that BRI should continue to advance infrastructure development to boost the economic growth of developing countries.","PeriodicalId":37512,"journal":{"name":"Global Journal of Emerging Market Economies","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Global Journal of Emerging Market Economies","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1177/09749101231167454","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"Economics, Econometrics and Finance","Score":null,"Total":0}
引用次数: 0
Abstract
As of July 2022, China has signed more than 200 cooperation agreements on the Belt and Road Initiative (BRI) with 149 countries and 32 international organizations. This research aims to explore the impact of the infrastructure development of this initiative on the economic growth of countries participating in the BRI. Based on the panel data of 130 participating countries and 46 other countries from 2006 to 2019, the difference-in-difference (DID) model and multiple robustness tests were used for empirical evaluation. We found a positive correlation between BRI and the economic growth of BRI-cooperating countries. The heterogeneity test results show that BRI has a more prominent role in promoting the economic growth of upper-middle-income and high-income countries with relatively good industrial foundations. The impact of improved infrastructure development through BRI accounted for 88.42% of the total mediating effect, which is much more significant than promoting industrial upgrading and enhancing innovation capacity. These results support the view that BRI should continue to advance infrastructure development to boost the economic growth of developing countries.
期刊介绍:
Global Journal of Emerging Market Economies is a peer-reviewed journal. The aim of the journal is to provide an international platform for knowledge sharing, discussion and networking on the various aspects related to emerging market economies through publications of original research. It aims to make available basic reference material for policy-makers, business executives and researchers interested in issues of fundamental importance to the economic prospects and performance of emerging market economies. The topics for discussion are related to the following general categories: D. Microeconomics E. Macroeconomics and Monetary Economics F. International Economics G. Financial Economics H. Public Economics I. Health, Education, and Welfare J. Labor and Demographic Economics L. Industrial Organization O. Economic Development, Innovation, Technological Change, and Growth Q. Agricultural and Natural Resource Economics • Environmental and Ecological Economics R. Urban, Rural, Regional, Real Estate, and Transportation Economics Additionally, the journal would be most interested to publish topics related to Global Financial Crisis and the Impact on Emerging Market Economies Economic Development and Inclusive Growth Climate Change and Energy Infrastructure Development and Public Private Partnerships Capital Flows to and from Emerging Market Economies Regional Cooperation Trade and Investment and Development of National and Regional Financial Markets The Belt and Road Initiative.