Impact of Trade Facilitation in Countries along the Belt and Road on China's Foreign Direct Investment
Based on the data of Chinese enterprises' direct investment in 65 countries or regions along the Belt and Road from 2003 to 2019, this paper empirically tests the impact of trade facilitation in countries along the Belt and Road on China's foreign direct investment with the help of the gravity model. The results show that the trade facilitation of the countries along the Belt and Road can play a positive investment effect and significantly promote China's foreign direct investment. Using the three-country model with the third-country effect, it is found that the capital endowment, political and economic stability and other factors of the third country will cause the transfer effect of enterprise direct investment, resulting in the crowding out effect of China's direct investment in countries or regions along the Belt and Road. The time-based test found that the third-country effect had a more significant impact on China's direct investment in countries or regions along the Belt and Road from 2009 to 2019.
the Belt and Roadtrade facilitationforeign direct investmentthe third country effectthe gravity model
万方数据
