An Empirical Study on the Impact of Chinese OFDI on the Upgrading of Industrial Structure in Countries Along the Belt and Road

Zhang Huan (2023) An Empirical Study on the Impact of Chinese OFDI on the Upgrading of Industrial Structure in Countries Along the Belt and Road. Külkereskedelmi Kar.

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Absztrakt (kivonat)

The global financial crisis broke outin 2008, after whichthe world economy has been in a weakened state. With the continuous progressof the Chinese economy in recent years, China has been a growing part of driving global economic growth.The Belt and Road Initiative was launched to enable China to contribute to more worldwide economic activities in 2013.While alsoinject new impetus into worldeconomic progress. As one of the most crucialways for Chinese corporationsto go out and involvein the "Belt and Road" construction, foreign direct investment has maintained a consistent rise over the years, with the volumeof China's direct investment in economiesalong the route amounting to US$213.84 billion by the ending of 2021, making an important contribution to the economic progressand industrial structure upgrading of the countries along the route. However, in the face of the continuous construction achievements, some questions have been raised regardingthe Belt and Road Initiative.In these circumstances, studying the consequences of China's outward FDIupon the upgrading of industrial structures in Belt and Road nations has substantial theoretical and practical implications. On the basis ofa review of classical theories and literature on China and other countries, this paper summarizes the influencemechanism of foreign direct investment on the updatingof industrial frameworkof host economies, and then analyzes in detail the present stageof China's direct investment in nationsalong the "Belt and Road" and its industrial structure development with macroeconomic data.Based on this, this researchconstructs a fixed-effects model utilizingpanel data collected from 62 economiesalong the Belt and Road during 2013-2021, while the influence of Chinese OFDI on the upgrading of industrial frameworkin economiesalong the Belt and Road is examined empirically.According to the study's findings, Chinese OFDI has performed a crucial component in fostering industrial restructuring in nations along the Belt and Road Initiative, and the international accusations against the Belt and Road Initiative are not valid;further differentiating the sample studies reveals that host country heterogeneity has a differential influence on the industrial structure updating effect, with Chinese OFDI showing a significantly positive industrial structure upgrading effect on developing economies but showing a non-significant industrial structure upgrading effect on developed and transition economies.Finally, on the basis offindings of this article, we propose policy suggestionsfor high-qualityjoint efforts to build"One Belt, One Road" fromthe national angel and the enterprise angelrespectively: the Chinese government should continue to vigorously promote "One Belt, One Road" foreign direct investmentespecially in developing countries, while strengthening policy guidance on foreign investment flows according to the national situationof host countries,meanwhileactively promoting the achievements of "One Belt, One Road" cooperation; Chinese enterprises should enhanceproject feasibility analysis before investing overseas and actively fulfill their social responsibilities.

Intézmény

Budapesti Gazdasági Egyetem

Kar

Külkereskedelmi Kar

Tanszék

Nemzetközi Gazdaságtan Tanszék

Tudományterület/tudományág

NEM RÉSZLETEZETT

Szak

Nemzetközi gazdaság és gazdálkodás (angol)

Mű típusa:	diplomadolgozat (NEM RÉSZLETEZETT)
Kulcsszavak:	Belt and Road, China, economic developement, economics, international cooperation, investment, OFDI, technology
SWORD Depositor:	Archive User
Felhasználói azonosító szám (ID):	Archive User
Rekord készítés dátuma:	2023. Szep. 07. 14:23
Utolsó módosítás:	2023. Szep. 07. 14:23

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