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| IMPACT OF THE BELT AND ROAD INITIATIVE ON CHINESE OFDI: A GEOPOLITICAL STRATEGIC PERSPECTIVE |
| WANG Feng-long1,2, SI Yue-fang1,3, ZENG Gang1,2,3 |
1. The Center for Modern Chinese City Studies, East China Normal University, Shanghai 200062, China;
2. Institute of Urban Development, East China Normal University, Shanghai 200062, China;
3. School of Urban & Regional Science, East China Normal University, Shanghai 200062, China |
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Abstract As one of the major national strategies in China, the "Belt & Road" (B&R) initiative is expected to promote China's outward foreign direct investment (OFDI). However, with most existing studies focusing on the spatial distribution of China's OFDI among the B&R countries, few have examined whether the B&R initiative really cause more investment from China to the B&R countries and whether the investments in some pivotal regions grow faster than other regions after the declaration of B&R initiative. This paper tries to narrow this gap by integrating the theoretical and empirical findings in geopolitical studies and research on OFDI and examining the spatial difference and determinants of China's OFDI in the B&R countries based on the difference in difference (DID) method. It is found that the China's OFDI in the B&R countries grew rapidly after the declaration of the B&R initiative; however, the central and western Asia tends to attract more investments from China after controlling the effects of other variables, because of the importance of this region in geopolitics and the supportive policies made by Chinese government.
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Received: 25 October 2018
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2019, Vol. 34 
