{"title":"Can the Belt and Road Initiative Promote the Industrialization of Developing Countries?","authors":"Kunling Zhang","doi":"10.1177/09749101231167447","DOIUrl":null,"url":null,"abstract":"While industrialization has profound implications for human well-being, the industrialization of developing countries faces multiple challenges today. Based on the theoretical framework of development economics, this article discusses how the Belt and Road Initiative (BRI) as a new model of international development cooperation can complement and improve the traditional model and analyzes how the new model can promote the industrialization of developing countries. The findings show that BRI has improved the traditional international development cooperation model in terms of emphasizing investment in developing countries, infrastructure construction, the principles of achieving shared growth through consultation and collaboration, the role of the government, and systematic and open development cooperation. At the same time, the BRI can facilitate the industrialization of developing countries by improving agricultural productivity, building infrastructure, capital formation, trade promotion, rural–urban transformation, and upgrading technology and knowledge. However, the facilitation effect depends on how developing countries formulate industrialization strategies keeping in perspective their national conditions and development needs and the international economic environment.","PeriodicalId":37512,"journal":{"name":"Global Journal of Emerging Market Economies","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Global Journal of Emerging Market Economies","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1177/09749101231167447","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"Economics, Econometrics and Finance","Score":null,"Total":0}
引用次数: 0
Abstract
While industrialization has profound implications for human well-being, the industrialization of developing countries faces multiple challenges today. Based on the theoretical framework of development economics, this article discusses how the Belt and Road Initiative (BRI) as a new model of international development cooperation can complement and improve the traditional model and analyzes how the new model can promote the industrialization of developing countries. The findings show that BRI has improved the traditional international development cooperation model in terms of emphasizing investment in developing countries, infrastructure construction, the principles of achieving shared growth through consultation and collaboration, the role of the government, and systematic and open development cooperation. At the same time, the BRI can facilitate the industrialization of developing countries by improving agricultural productivity, building infrastructure, capital formation, trade promotion, rural–urban transformation, and upgrading technology and knowledge. However, the facilitation effect depends on how developing countries formulate industrialization strategies keeping in perspective their national conditions and development needs and the international economic environment.
期刊介绍:
Global Journal of Emerging Market Economies is a peer-reviewed journal. The aim of the journal is to provide an international platform for knowledge sharing, discussion and networking on the various aspects related to emerging market economies through publications of original research. It aims to make available basic reference material for policy-makers, business executives and researchers interested in issues of fundamental importance to the economic prospects and performance of emerging market economies. The topics for discussion are related to the following general categories: D. Microeconomics E. Macroeconomics and Monetary Economics F. International Economics G. Financial Economics H. Public Economics I. Health, Education, and Welfare J. Labor and Demographic Economics L. Industrial Organization O. Economic Development, Innovation, Technological Change, and Growth Q. Agricultural and Natural Resource Economics • Environmental and Ecological Economics R. Urban, Rural, Regional, Real Estate, and Transportation Economics Additionally, the journal would be most interested to publish topics related to Global Financial Crisis and the Impact on Emerging Market Economies Economic Development and Inclusive Growth Climate Change and Energy Infrastructure Development and Public Private Partnerships Capital Flows to and from Emerging Market Economies Regional Cooperation Trade and Investment and Development of National and Regional Financial Markets The Belt and Road Initiative.