The Impact of Jointly Building the"Belt and Road"on Income Distribution:Mechanism and Evidence
The original intention of jointly building the"Belt and Road"is to pursue inclusive growth and narrow the development gap.This article verifies that the"Belt and Road"initiative has achieved the goal of inclusive growth while promoting economic growth and reducing the income gap among countries along the route.As an exogenous institutional arrangement for trade and investment liberalization and mutual benefit and reciprocity,we use the data of 62 countries provided by the World Bank to confirm that the joint construction of the"Belt and Road"has opened up a new"gateway"for foreign trade and investment of countries along the line,allowing a country to have more channels and directions for the flow of goods and factors,and also avoiding factors crowding in a coastal port direction.The joint construction of the"Belt and Road"has pushed the countries along the Belt and Road closer to the world's leading markets.The growth effect of per capita capital level,the scale effect of trade and investment,the employment promotion effect and the effect of technological progress have all played a significant role in narrowing the income gap.
"Belt and Road"Initiativegeographical locationincome distributionflow of production factors
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