The role of infrastructure on economic growth in belt and road participating countries

IF 1.1 Q3 ECONOMICS

Journal of Chinese Economic and Foreign Trade Studies Pub Date : 2021-02-11 DOI:10.1108/JCEFTS-09-2020-0065

Mui-Yin Chin, S. Ong, Chew-Keong Wai, Y. Kon

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引用次数: 1

Abstract

Purpose This study aims to delve deeply into the role of infrastructure on economic growth in 59 belt and road initiative (BRI) participating countries from various regions of the world as the main objective of BRI is to encourage the participating countries to improve investment and trade facilitation via infrastructure. Besides, the development of infrastructure is in line with the United Nations’ 2030 sustainable development goals (SDG). Design/methodology/approach This study encompasses all of the important physical infrastructure factors to compute a composite infrastructure index. Thereafter, this study used both the panel cointegration and the panel Granger causality tests to investigate the impact of the infrastructure index and other essential factors on economic growth. Findings The empirical results signify the importance of infrastructure development on economic growth in both the long-run and short-run. Besides, it is evident that capital, expenditure on health and education, as well as exports, will accelerate economic growth. Originality/value The findings of this study could contribute to the literature regarding BRI in two ways. First, it will provide insight to the policymakers of China and the BRI participating countries on whether infrastructure development is worthy of huge investment so as to enhance the success of the BRI. Second, the outcome of this study will give policymakers a better understanding of the determinants of economic growth, which, in turn, will help them in designing effective policies.

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基础设施对“一带一路”沿线国家经济增长的推动作用

目的本研究旨在深入探讨全球59个“一带一路”倡议倡议参与国基础设施对经济增长的作用，因为“一带一路”倡议的主要目标是鼓励参与国通过基础设施改善投资和贸易便利化。此外，基础设施的发展符合联合国2030年可持续发展目标。设计/方法/方法本研究涵盖了所有重要的有形基础设施因素，以计算综合基础设施指数。此后，本研究使用面板协整和面板Granger因果检验来研究基础设施指数和其他基本因素对经济增长的影响。实证结果表明基础设施发展对经济增长的长期和短期重要性。此外，很明显，资本、卫生和教育支出以及出口将加速经济增长。原创性/价值本研究的发现可以从两个方面为有关BRI的文献做出贡献。首先，它将为中国和“一带一路”倡议参与国的决策者提供关于基础设施发展是否值得巨额投资的见解，以提高“一带一步”倡议的成功率。其次，这项研究的结果将使决策者更好地了解经济增长的决定因素，这反过来将有助于他们设计有效的政策。

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

Journal of Chinese Economic and Foreign Trade Studies ECONOMICS-

CiteScore

3.40

自引率

4.20%

发文量

期刊介绍： The Journal of Chinese Economic and Foreign Trade Studies (JCEFTS) negotiates China''s unique position within the international economy, and its interaction across the globe. From a truly international perspective, the journal publishes both qualitative and quantitative research in all areas of Chinese business and foreign trade, technical economics, business environment and business strategy. JCEFTS publishes high quality research papers, viewpoints, conceptual papers, case studies, literature reviews and general views. Emphasis is placed on the publication of articles which seek to link theory with application, or critically analyse real situations in terms of Chinese economics and business in China, with the objective of identifying good practice in these areas and assisting in the development of more appropriate arrangements for addressing crucial issues of Chinese economics and business. Papers accepted for publication will be double–blind peer-reviewed to ensure academic rigour and integrity.