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Abstract
The Belt and Road Initiative (BRI) is a comprehensive megaproject, which includes numerous projects in the sphere of green energy. The effectiveness of these projects is often doubted. The article reveals the main mechanisms of green energy projects’ influence on the economy and through the research of 8 BRI countries demonstrates the method of green energy projects efficiency estimation. China is considered to be the main driver for green energy proliferation in Asia, receiving economic benefits through its policy. The authors prove this to be right, but the effects for PRC differ in short and long-run periods. The main findings of the paper are that the BRI green energy dissemination is just the first step to building a tightly interconnected Asian energy infrastructure, and that the BRI least developed countries have less positive long-run effects from green energy investment, while in short-term they get a boost for their economies. Keywords: BRI, green energy, energy, Asian region, China, JEL Classifications: F21; K32; O44 DOI: https://doi.org/10.32479/ijeep.8045
Highlights
The Chinese initiative “One Belt, One Road” known as belt and road initiative (BRI) is one of the most ambitious and complex projects of the 21st century
One of the key spheres of partnership under BRI is energy policy, green energy playing an important role in the Energy BRI
The impact of green energy on the economies of participating countries differ, the hypothesis, that the more developed countries get more benefits, than the least developed countries (LDC) from green energy is proved for the current situation, but with one correction — the foreign direct investments (FDI) in green energy are far more effective, than national direct investments
Summary
The Chinese initiative “One Belt, One Road” known as belt and road initiative (BRI) is one of the most ambitious and complex projects of the 21st century. It covers a wide range of subjects of integration, including infrastructure, finance and economics, energetics and ecology. The impact of the energy projects on the national economy differs, depending on the country, but it no doubt provides additional impetus for the economies of participating countries The description of this impetus and estimating the potential economic benefits is vital for understanding the effectiveness of BRI initiative in general
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