文化、地理差异对中国 “一带一路”沿线国家投资影响研究

Research on the Impact of Cultural and Geographical Differences on the Investment of China’s Belt and Road Initiative

“一带一路”倡议实施以来,中国和沿线国家之间的经济联系愈加紧密,中国对沿线国家的投资不断推动着这些国家的经济发展,为其经济增长提供重要力量。本文选取31个沿线国家2006年-2016年的面板数据,借助计量经济学模型,实证分析文化、地理距离对中国“一带一路”沿线国家投资的影响因素,研究发现:(1)中国在对“一带一路”沿线国家进行投资的过程中,应首先选择地理距离较小、文化相似的国家作为重点,以节约投资成本,降低投资风险。(2)中国对“一带一路”沿线国家投资时,文化距离和地理距离均与对外投资负相关,即东道国国家与中国的文化距离越小、文化越相似,地理距离越近,越有利于吸引中国对其投资,且文化距离对中国对外投资的负效应大于地理距离带来的负效应。

Since the implementation of the"Belt and Road"initiative,the economic contact with the countries along the routes has become increasingly close.China’s investment in the countries along the routes has been continually pushing the economic development of these countries and playing an important role in their economic growth.This paper selects panel data of 31 countries along the routes from 2006-2016,and analyzes the influence factors of cultural and geographical distance on the investment of the countries along the"Belt and Road"with the help of econometric model.The research findings are as follows:First,in the process of investing in the countries along the"Belt and Road",China should first focus on these countries with a smaller geographical distance and similar culture in order to save investment cost and reduce investment risk.Second,cultural distance and geographical distance are negatively correlated with overseas investment when China invests in the countries along the routes.That is,the closer geographical distance and the more similar culture are conducive to attracting Chinese investment.Furthermore,the negative effect of cultural distance on China’s overseas investment is greater than the negative effect of geographical distance.