This study used a two-step system generalized method of moments to examine the impact of the business environment in the Belt and Road countries on outward foreign direct investment(OFDI)of China while presenting a de...This study used a two-step system generalized method of moments to examine the impact of the business environment in the Belt and Road countries on outward foreign direct investment(OFDI)of China while presenting a deeper investigation into the spatial characteristics of OFDI through a spatial error model.The results revealed that the impact mentioned above varies with different investment motivations.If Chinese businesses are motivated by local consumer markets or seeking a human workforce to make an outward direct investment,they will choose countries with poor business environments.They will select countries with stable business environments for their natural resources or strategic assets.Significant spatial agglomeration exists in China's OFDI in the countries and regions along the routes,while substantial evidence is absent on the business environment investment effect with different motivations.Finally,relevant recommen-dations concluded according to the study.展开更多
基金supported by National Social Science Foundation of China(No:19BTJ037)funded by Special Funding for Basic Operating Expenses of Universities in Zhejiang Province.
文摘This study used a two-step system generalized method of moments to examine the impact of the business environment in the Belt and Road countries on outward foreign direct investment(OFDI)of China while presenting a deeper investigation into the spatial characteristics of OFDI through a spatial error model.The results revealed that the impact mentioned above varies with different investment motivations.If Chinese businesses are motivated by local consumer markets or seeking a human workforce to make an outward direct investment,they will choose countries with poor business environments.They will select countries with stable business environments for their natural resources or strategic assets.Significant spatial agglomeration exists in China's OFDI in the countries and regions along the routes,while substantial evidence is absent on the business environment investment effect with different motivations.Finally,relevant recommen-dations concluded according to the study.
