Based on the China Global Investment Tracker(CGIT)database of 2005-2018,this paper creates a country-sector-year panel set for a study on the BRI’s investment effects on the transportation sector of BRI countries usi...Based on the China Global Investment Tracker(CGIT)database of 2005-2018,this paper creates a country-sector-year panel set for a study on the BRI’s investment effects on the transportation sector of BRI countries using the difference-in-differencesin-differences(DDD)method.Our study finds that the BRI has significantly increased transportation investments by Chinese companies in the BRI countries without causing significant rise in problem transactions.The"debt trap"narrative that the BRI aims to take control over host countries’sovereign rights in exchange for debt write-offs is not supported by evidence.Discussions on sub-samples reveal that the BRI has mainly propelled SOEs in making transportation investments to generate development effects in host countries,most of which are Asian countries,and that the preferred mode of investment is cross-border M&As.展开更多
We argue that Western media advance two main interpretations of the Belt and Road Initiative(BRI).The first suggests that the BRI is primarily motivated by China's geopolitical ambitions.The second contends that t...We argue that Western media advance two main interpretations of the Belt and Road Initiative(BRI).The first suggests that the BRI is primarily motivated by China's geopolitical ambitions.The second contends that the initiative creates"debt traps"for developing countries,hiding the true size of the debt while aiming at the seizure of the infrastructure it builds.We challenge both claims by reviewing critically the existing literature on the BRI.We posit that rather than geopolitical,China's primary motivation has been to promote the development of its western provinces,transforming landlocked areas into land linked ones.Moreover,most of the existing literature neglects the fact that the need for infrastructure development across various continents is well documented by respective regional banks.The dominant"debt trap"narrative is also refuted by several scholars,together with the hypothesis of"asset seizure"and other related critiques.The article concludes that,if anything,geopolitical motivations(particularly tensions between the US and China)are at the root of the negative narrative surrounding the BRI,rather than at the origin of the BRI itself.展开更多
基金supported by the National Natural Science Foundation of China(NSFC)Youth Program“Study on the Diffusion Mechanism and Policy Effects of Local Environmental Management Policies:an Example of the‘River Chief System’”(Grant No.:71903085)the National Social Science Foundation of China Key Research Program“Study on BRI Trade and Investment Liberalization and Facilitation:Quantitative Evaluation and Implementation Strategies”(Grant No.:18VDL014)”the National Social Science Foundation of China Key Program“Study on China’s Economic Growth Potentials and Drivers”(Grant No.:14ZDA023)。
文摘Based on the China Global Investment Tracker(CGIT)database of 2005-2018,this paper creates a country-sector-year panel set for a study on the BRI’s investment effects on the transportation sector of BRI countries using the difference-in-differencesin-differences(DDD)method.Our study finds that the BRI has significantly increased transportation investments by Chinese companies in the BRI countries without causing significant rise in problem transactions.The"debt trap"narrative that the BRI aims to take control over host countries’sovereign rights in exchange for debt write-offs is not supported by evidence.Discussions on sub-samples reveal that the BRI has mainly propelled SOEs in making transportation investments to generate development effects in host countries,most of which are Asian countries,and that the preferred mode of investment is cross-border M&As.
基金supported by the Project of Provincial Fund of Philosophy and Social Science of Guangdong"Risk management of China's overseas investment:a perspective based on complex networks" (No.GD24CYJ02)Ministry of Education in China Project of Humanities and Social Sciences"Investment risk identification and transmission mechanism of countries participating in the Belt and Road Initiative" (No.23YJCZH134).
文摘We argue that Western media advance two main interpretations of the Belt and Road Initiative(BRI).The first suggests that the BRI is primarily motivated by China's geopolitical ambitions.The second contends that the initiative creates"debt traps"for developing countries,hiding the true size of the debt while aiming at the seizure of the infrastructure it builds.We challenge both claims by reviewing critically the existing literature on the BRI.We posit that rather than geopolitical,China's primary motivation has been to promote the development of its western provinces,transforming landlocked areas into land linked ones.Moreover,most of the existing literature neglects the fact that the need for infrastructure development across various continents is well documented by respective regional banks.The dominant"debt trap"narrative is also refuted by several scholars,together with the hypothesis of"asset seizure"and other related critiques.The article concludes that,if anything,geopolitical motivations(particularly tensions between the US and China)are at the root of the negative narrative surrounding the BRI,rather than at the origin of the BRI itself.
