The link between Chinese belt and road initiative and foreign direct investment inflows in Southern Africa

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Borsa Istanbul Review Pub Date : 2024-03-01 DOI:10.1016/j.bir.2023.12.012

Gift Andrew Sabola

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引用次数: 0

Abstract

This study investigates the association between infrastructure development in China's Belt and Road Initiative (BRI) and foreign direct investment (FDI) inflows to southern Africa, using a propensity score matching–difference-in-difference (PSM-DID) regression. The empirical examination is based on a sample of eight southern African countries selected based on data availability. We find that China's BRI has significantly positive effects on FDI inflows to southern Africa. Therefore, governments and development policy makers in southern African countries are recommended to devise supporting policies in order to ensure that the BRI leads to sustainable FDI inflows and sustainable economic growth. The study makes significant contributions to theory, policy, and practice. In policy and practice, our study is valuable for policy-making on driving FDI inflows. However, the context of the study is specifically southern Africa, hence, the results might not be generalizable to other African regions or Africa as a whole, so further research is needed to consider those areas.

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中国的 "一带一路 "倡议与流入南部非洲的外国直接投资之间的联系

本研究采用倾向得分匹配-差分回归法（PSM-DID），探讨了中国 "一带一路 "倡议（BRI）中的基础设施建设与流入南部非洲的外国直接投资（FDI）之间的关联。实证研究以八个南部非洲国家为样本，根据数据的可获得性进行选择。我们发现，中国的金砖倡议对流入南部非洲的外国直接投资具有显著的积极影响。因此，建议南部非洲国家的政府和发展政策制定者制定配套政策，以确保 "金砖倡议 "带来可持续的外国直接投资流入和可持续的经济增长。本研究为理论、政策和实践做出了重大贡献。在政策和实践方面，我们的研究对推动外国直接投资流入的政策制定很有价值。然而，本研究的背景是南部非洲，因此研究结果可能无法推广到其他非洲地区或整个非洲，因此需要进一步研究这些领域。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Borsa Istanbul Review Multiple-

CiteScore

7.60

自引率

3.80%

发文量

130

审稿时长

26 days

期刊介绍： Peer Review under the responsibility of Borsa İstanbul Anonim Sirketi. Borsa İstanbul Review provides a scholarly platform for empirical financial studies including but not limited to financial markets and institutions, financial economics, investor behavior, financial centers and market structures, corporate finance, recent economic and financial trends. Micro and macro data applications and comparative studies are welcome. Country coverage includes advanced, emerging and developing economies. In particular, we would like to publish empirical papers with significant policy implications and encourage submissions in the following areas: Research Topics: • Investments and Portfolio Management • Behavioral Finance • Financial Markets and Institutions • Market Microstructure • Islamic Finance • Financial Risk Management • Valuation • Capital Markets Governance • Financial Regulations