Abstract
The article regards “The Belt and Road” initiative as a quasi-natural experiment. Based on the county panel data from 1999 to 2017, difference-in-differences model (DID) is used to examine the impact of the “The Belt and Road” initiative on regional economic growth and economic innovation. The study found that the “The Belt and Road” initiative can significantly increase the economic growth and innovation of the region. Through the placebo test and the robustness test, it shows good policy uniqueness characteristics. The article further analyzes the heterogeneity of the initiative. The study found that the initiative has more obvious economic growth and innovation in the central region.
Highlights
“The Belt and Road” initiative is a long-term and ambitious strategy that can provide sustained momentum for China's economic growth and innovation
Some scholars believe that the "Belt and Road" initiative can promote the optimization and upgrading of the industrial structure by resolving excess capacity, and promote the implementation of the "going out" economic strategy, thereby enabling the Chinese economy to participate in the international economy in depth and enhance China's economic competitiveness [1]
This article intends to use county-level data from 1999 to 2017 as a research sample, and the “The Belt and Road” initiative as a quasi-natural experiment, using differencein-differences model to test the impact of the “The Belt and Road” initiative on regional economic growth and economic innovation
Summary
“The Belt and Road” initiative is a long-term and ambitious strategy that can provide sustained momentum for China's economic growth and innovation. The theory of multi-level governance believes that the central government is not the only subject to connect with international actors Local governments such as provinces and cities are all important promoters of the “The Belt and Road” construction. Can the “The Belt and Road” initiative really promote the economic growth and economic innovation of. The research results show that the “The Belt and Road” initiative has significantly promoted regional GDP growth and the increase in regional innovation capabilities. At the same time, referring to the practice of existing literature, the provinces are divided into east, middle and west respectively to examine the heterogeneity of the influence of the “The Belt and Road” initiative on the region, and the research finds that the initiative has a stronger effect on the economic stimulus of the central region
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