Analysis of the Influencing Path of China's OFDI on the Economic Growth of the Countries Along the Belt and Road
Since the Belt and Road Initiative was put forward,China has carried out extensive cooperation with the countries along the Belt and Road(B&R)in many fields and continuously increased direct investment in the countries along B&R,driving the economic growth of these countries.Based on the panel data of China's OFDI in 60 countries along B&R from 2003 to 2021,this paper constructs a multiple chain mediating effect model to empirically test the influencing path of China's OFDI on the economic growth of the countries along B&R.The results show that China's OFDI can significantly promote the economic growth of the countries along B&R through the infrastructure construction,the increase in production inputs and the expansion of export scale,and the mediating effect of the expansion of export scale is the strongest.The analysis of the chain path mechanism reveals that the countries along B&R realize economic growth mainly through the path of"China's OFDI→infrastructure construction→export scale expansion→economic growth".The heterogeneity analysis indicates that in addition to the above path,the relatively developed countries can also realize economic growth through the path of"China's OFDI→increase in production inputs→export scale expansion→economic growth".
NETL
NSTL
万方数据
