Has the Belt and Road Initiative Alleviated China's Overcapacity?——Sample Estimation from 281 Urban Agglomerations
The question of whether the"Belt and Road"Initiative has alleviated overcapacity is an urgent issue in China s economic transition towards high-quality development in the new era.This study first uses Data Envelopment Analysis(DEA)to measure the capacity utilization rate of Chinese urban agglomerations.Then,it employs the Propensity Score Matching with Difference-in-Differences(PSM-DID)method to empirically analyze whether the"Belt and Road"Initiative has alleviated overcapacity in China and explores the intermediate transmission mechanism.The re-search finds that China's overall capacity utilization rate is relatively low,with eastern cities having a higher utilization rate than those in central and western regions.The"Belt and Road"Initiative ef-fectively alleviates China's overcapacity,mainly through three mechanisms:creating a favorable poli-cy environment,enhancing the level of outward foreign direct investment,and promoting cooperation in overseas engineering projects.The findings of this study provide theoretical basis and practical ref-erence for the relationship between the"Belt and Road"Initiative and China's capacity governance.
"Belt and Road"Initiativecapacity utilizationurban governancehigh-quality development
万方数据
