Effect of Belt and Road Initiative on Chinese Economic Growth

초록

Purpose: This study is to examine the impact of 'Belt and Road Initiative (BRI)' on Chinese economic growth. Design/methodology/approach: This paper employs multi-layered empirical approach such as panel analysis and regression analysis with average and country-specific effects. Findings: This study finds that the Belt and Road Initiative has a direct negative effect on China's economic growth, whereas the economic growth of the participant countries has a positive effect on China's economic growth. Also, the effect of individual participant countries on China's economic growth varies by each country. Research limitations/implications: This study finds that BRI has a direct negative effect on China's economic growth, whereas the economic growth of the participant countries has a positive effect on China's economic growth. Also, depending on each country's economic structure, trade, investment, and level of participation in BRI, the heterogeneous effects are given across participant countries. Originality/value: This paper offers a meaningful and timely contribution to the empirical evaluation of BRI’s impact on China’s economy-a topic rarely explored from this perspective. © The Author(s).

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