Abstract
AbstractThis article examines how the Belt and Road Initiative (BRI) affects Cross‐Border M&As (CMAs) inflows to countries along the Belt and Road routes (BRI countries) from non‐BRI countries. We conduct a difference‐in‐differences estimation with a control group constructed through propensity score matching. We find that the BRI significantly reduces CMAs from non‐BRI countries to BRI countries. The results are robust to various concerns and specifications. We uncover two important mechanisms driving the results: the increased CMAs within BRI countries and the potential debt risks. We also find heterogeneous effects across countries.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
