The Belt and Road Initiative and the subjective well-being of domestic residents
One of the core objectives of the Belt and Road Initiative is to make the construction achievements better benefit all people.Based on the data of China Family Panel Studies(CFPS)from 2010 to 2018,this paper uses the difference-in-difference method to assess the subjective well-being effect of the Belt and Road Initiative.The paper finds that the Belt and Road Initiative has significantly improved the subjective welfare of domestic residents,and the above effect are mainly comes from the improvement of urban transportation infrastructure,the expansion of resident consumption scale,and the upgrading of resident consumption.Further research shows that the subjective well-being effect of the Belt and Road Initiative has the characteristic of"pro poverty",which is more prominent among groups with lower income and social status.In addition,this paper also finds that the promotion effect of the Belt and Road Initiative on residents'subjective well-being is more obvious in cities with a higher proportion of the tertiary industry and in the cities along the Silk Road Economic Belt.This paper provides a new perspective for understanding the economic effects of the Belt and Road Initiative.At the same time,it emphasizes that more in-depth integration into the joint construction of the Belt and Road,accelerating the construction of a modern transportation infrastructure network system,and taking multiple measures to promote consumption expansion and upgrading have important implications for effectively improving the subjective well-being of domestic residents in the context of the Belt and Road Initiative.
the Belt and Road Initiativesubjective well-being of residentsconsumption up-gradingdifference-in-difference method