Belt And Road Initiative Region Research Articles

Natural resources, trade and fintech in the era of digitalization: A study of economies involved in Belt and Road Initiative

The present study aims to elucidate the impact of digitalization, fintech, trade, and industrial growth on natural resource consumption in emerging economies within the Belt and Road Initiative (BRI) countries. Employing the Cross-sectional Augmented Autoregressive Distributed Lag (CS-ARDL) method to mitigate Cross-sectional Dependence (CD) and heterogeneity in slope parameters across panels, this study investigates the previously mentioned relationship. Meticulously selecting panel data from twenty-four emerging countries spanning from 1995 to 2021 in the BRI region, the study offers a robust analysis. The findings of this study reveal the positive impact of digitalization on natural resources, as the proliferation of digital devices, data centers, and internet connectivity contributes to higher energy demands, surging the use of natural resources like fossil fuels and electricity. However, the negative impact of fintech on natural resource consumption shows the adoption of energy-efficient technologies, implementation of e-waste management policies, and advocacy for renewable energy addition in energy system. The result shows trade can reduce pressure on natural resources and endorses that BRI can improve trade activities in the member countries, however, actions such as emphasizing green technology adoption, allocating funds for conservation, promoting sustainable resource management, and investing in resource-efficient production, may contribute positively to preserving natural resources in the member nations. Thus comprehensive approach encompassing trade, industrial growth, and the promotion of financial technologies, collectively could strengthen sustainable resource management efforts in the BRI economies.

Determinants of the growing material footprints along the Belt and Road

AbstractThe Belt and Road Initiative (BRI) has induced immense material consumption and environmental threats while fostering economic development along participating countries. Quantifying recent trends of the material footprint of BRI economies and identifying potential drivers are vital to inform sustainable resource use. However, an assessment on the determinants of BRI material consumption from an economic system viewpoint is lacking in the literature. To fill this gap, this study proposes a multi‐region structural decomposition analysis model to assess the drivers of material footprints in BRI economies. To scrutinize the effects of transitioning economic structures, the effects of domestic and cross‐border production activities are separated. The latter is further characterized by production technology and sourcing structure. Using global multi‐region input–output tables of 2005–2015, this study reveals that shifting international sourcing patterns boosted BRI material footprint, with rising intermediate goods and services sourced from BRI regions substituting those from North America and the European Union. Capital formation in the construction sector took the primary role in driving BRI material footprint growth, followed by manufacturing sectors, especially since 2013. Disparities in the key drivers of material footprints have been identified among developed, emerging, and least developed economies. The results have relevant policy implications regarding alleviating BRI material pressure, including fostering material‐efficient demand patterns, facilitating environmental technology improvements in local countries, and establishing stringent governance on material usage.

Projected Changes in SWA over the Main BRI Regions for Net-Zero and Net-Negative Future

Surface water availability (SWA, calculated by precipitation [P] minus actual evaporation [E]) has great impacts on society. However, it remains unclear how SWA will change in a net-zero and net-negative future. In this study, we examine future changes in P, E, and SWA from the Coupled Model Intercomparison Project Phase 6 (CMIP6) for net-zero (2050–2060) and net-negative (2090–2100) CO 2 emissions periods under pathway SSP1-1.9 relative to historical baseline (1995–2014) in the main Belt and Road Initiative (BRI) regions. We also consider SSP2-4.5 and SSP5-8.5 for comparison. We find that P, E, and SWA changes exhibit obvious spatial heterogeneity, with increase or decrease over different areas for 2050–2060 and 2090–2100 relative to 1995–2014 under 3 scenarios. SWA changes are generally insignificant excluding some isolated areas under SSP1-1.9, yet have statistical significances over Central Africa and many areas in Eurasia for SSP2-4.5 and SSP5-8.5. Average monthly P and E are expected to markedly increase by 2.63 and 2.01 mm, 1.85 and 1.65 mm, for net-zero and net-negative periods under SSP1-1.9. Consequently, the projected monthly SWA will change by 0.78 and 0.36 mm. However, the projected P, E, and SWA have much larger changes in the same periods under the other 2 scenarios, especially 2090–2100. Our research provides previously unknown knowledge that SWA shows quite different changes in the net-zero and net-negative periods under SSP1-1.9 relative to the same periods under SSP2-4.5 and SSP5-8.5, which may facilitate management of water resource risks to ecosystems and human society.

An investigation of financial openness, trade openness, gross capital formation, urbanization, financial development, education and energy nexus in BRI: Evidence from the symmetric and asymmetric framework

Clean energy development can bring numerous benefits, such as decreased greenhouse gas emissions, improved air quality, and increased job opportunities in the green industry. These advantages can be achieved through the collaborative efforts of all stakeholders involved. Ultimately, adopting clean energy can lead to a healthier planet and economy. Energy availability and scarcity influence the aggregated economy. The present study explores the interrelationships between financial openness, trade openness, gross capital formation, urbanization, financial development, education, and energy within the Belt and Road Initiative (BRI) nations. A panel of 56 nations has considered empirical investigation for 2002–2020. The coefficients extracted from CS-ARDL revealed a catalyst role of openness in the energy mix, especially the inclusion of clean energy both in the long run and short. The asymmetric evaluation revealed that positive negative shocks in openness lead to a positive association with energy consumption. Moreover, the asymmetric association was also exposed through the execution of a standard Wald test. The study findings show that FO, TO, and GCF are critical in energy sustainability in BRI nations. It implies that clean energy inclusion in the energy mix might be amplified, and energy sustainability may be ensured. The energy transition of Belt and Road Initiative (BRI) nations is significantly affected by financial, trade, and domestic capital adequacy. The success of sustainable energy policies is determined by several factors, which play a crucial role in countries participating in BRI projects; the findings provide insight into the complex interdependencies among the variables above and their effects on the energy dynamics within the BRI region. Furthermore, the research findings hold considerable significance for policymakers as they offer valuable insights into the possible synergies and trade-offs among these factors that can facilitate sustainable energy transitions in the BRI economies.

Pollution halo impact in context of productive capacities, energy poverty, urbanization, and institutional quality

The Belt and Road Initiative (BRI) represents a substantial development strategy spearheaded by China. Its central aim is to foster connectivity across a vast geographical area that includes countries spanning Asia, Europe, and Africa. This project played a pivotal role to develop the region on the one side and also raised serious environmental concerns on the other side. There is extensive literature explored the various dimensions affecting the environment in BRI partner countries but there is hardly any study examining the impact of productive capacities, energy poverty, FDI, urbanization, and institutional quality on CO2 emission in the BRI region. Moreover, pollution halo impact is also explored so this study used panel data of 52 nations engaged in the BRI covering time span of 2001–2022 by applying OLS, Difference GMM, System GMM, Cross sectional-ARDL techniques. The results suggest that enhancing productive capacities, FDI and institutional quality significantly reduces carbon emissions in the region, while energy poverty, urbanization and economic growth is linked to higher carbon emissions. Moreover, ‘pollution halo effect’ is proved because of adoption of eco-friendly technologies through foreign corporations lead to reduction in carbon emission. The study advocates for policy measures that emphasize the promotion of productive capacities, the utilization of renewable energy sources, the adoption of practices regarding sustainable urban development, the implementation of efficient institutional structure, and inflow of eco-friendly technology through FDI.

Modeling spatial-temporal variability of PM2.5 concentrations in Belt and Road Initiative (BRI) region via functional adaptive density approach.

The rapid development of the Belt and Road Initiative (BRI) has led to severe air pollution dominated by PM2.5 concentrations which can cause a profound negative impact on human health and economic activity. This problem poses a critical environmental challenge to efficiently handling large-scale spatial-temporal PM2.5 data in this extended region. Functional data analysis (FDA) technique offers powerful tools that have the potential to enhance the analysis of spatial distributions and temporal dynamic changes in high-dimensional pollution data. However, modeling the spatial-temporal variability of PM2.5 concentrations by FDA remains unrevealed in the BRI region. To address this research gap, our study aimed to achieve two main objectives: first, to model the spatial-temporal dynamic variability of PM2.5 in 125 BRI nations (1998-2021), and second, to identify the underlying clusters behind the variations. We employed the recently developed functional adaptive density peak (FADP) clustering approach to solve the current problem. The proposed method is based on the joint use of functional principal components (FPCs) and functional cluster analyses. The main results are as follows: (i) The first three FPCs almost captured 99% of the total variations involving all valuable information on PM2.5 concentrations. (ii) PM2.5 pollution was highly concentrated in the developing countries (Pakistan, Bangladesh, and Nigeria) and the developed countries (Arabian Gulf countries: Qatar, United Arab Emirates, Bahrain, Saudi Arabia, Oman), and the least developed countries (Yemen and Chad). (iii) Three optimal clusters were identified and thus classified the PM2.5 into three distinct degrees of pollution: severe, moderate, and light. (iv) Cluster 1 had a severe pollution effect degree with a high rate of change, and it covered the Arabian Peninsula countries, African countries (Cameroon, Egypt, Gambia, Mali, Mauritania, Nigeria, Sudan, Senegal, Chad), Bangladesh, and Pakistan. (v) About 62 BRI countries belonged to cluster 2 showing a light pollution degree with annul average of less than 20 [Formula: see text]; this pointed out that the PM2.5 concentration remains stable in the cluster 2-related countries. The findings of this research would benefit governments and policymakers in preventing and controlling PM2.5 pollution exposure in BRI. Furthermore, this research could pay attention to sustainable development goals and the vision of the Green BRI policy.

Urbanization, rural energy-poverty, and carbon emission: unveiling the pollution halo effect in 48 BRI countries.

The Belt and Road Initiative (BRI) is a significant economic development strategy directed by China. Its primary objective is to establish connectivity across a vast region encompassing over 70 countries in Asia, Europe, and Africa. This endeavor significantly impacts worldwide development, economic advancement, and environmental sustainability. Nevertheless, insufficient pertinent evidence exists when exploring the correlation between urbanization, rural energy poverty (Rural_EP), and carbon emissions (CO2_Em) in the BRI region. The present study examines panel data encompassing 48 countries participating in BRI from 2001 to 2020. This research addresses existing gaps by employing the System-GMM and Driscoll and Kraay Standard Error (DKSE) models to investigate factors influencing CO2_Em. The findings indicate that the presence of energy poverty in rural areas is associated with higher levels of CO2_Em, while urbanization has a mitigating effect on such emissions. Furthermore, adopting production methods and environmentally sustainable technologies by foreign corporations leads to a decrease in CO2_Em, thereby providing evidence of a pollution halo effect in BRI. Moreover, economic growth and industrialization have detrimental environmental consequences, primarily through the amplification of CO2_Em. Based on the empirical evidence, the study proposes policy measures that advocate for promoting renewable energy sources, adopting sustainable urban development practices, implementing energy conservation strategies, and establishing carbon pricing mechanisms.

Global financial integration, governance-by-technology, and green growth

This study determines the influence of governance-by-technology (including the e-governance index and governance index) and socio-cultural factors (including sociocultural integration and household consumption per-capita) on inclusive green growth (IGG) with the moderating effect of global financial integration. Government expenditures and poverty were used as control variables. This study used the data of 64 Belt and Road initiative (BRI) partner countries from 2005 to 2020, which was analysed using the two-step system GMM (the generalized method of moments). The results was analysed using the two-step system GMM (the generalized method of moments) and validated through the D-K regression, 2SLS and dynamic fixed-effect robustness methods. Outcomes indicated that global financial integration positively moderates the relationship between governance-by-technology and IGG. Therefore, it can be stated that global financial integration, e-governance index, governance index, and sociocultural integration endorse IGG. The findings of this study contribute to the existing literature by providing new insights into inclusive green development, governance, technology, and socio-cultural integration. This study also encourages policymakers and institutions to focus on governance, e-governance, socio-cultural factors, and financial integration to boost inclusive green growth in the BRI region.

Unfolding carbon inequality across Belt and Road Initiative countries and regions under a global trade network

The Belt and Road Initiative (BRI) has boosted global trade and economic development. Carbon inequality embodied in global trade may occur across BRI countries and regions in the world. How to quantify this inequality is the key to achieving the green development of the Belt and Road. In this study, we constructed a methodological framework to analyze carbon inequality across BRI countries and regions under the global trade network. Results showed that nearly half of BRI countries and regions exported net embodied carbon emissions while obtaining net economic benefits. The most severe bilateral trade carbon inequality existed between China and BRI West Asia, whose bilateral trade carbon inequality index (BCI) reached 2.76. Except for Indonesia, Saudi Arabia, and BRI West Asia, BRI countries and regions were negatively affected by global trade carbon inequality, with China and India suffering the most, whose global trade carbon inequality indices (GCI) were -2.06 and -1.26, respectively. This methodological framework can be applied to analyze the inequality of other kinds of ecological impacts embodied in trade on any scale. Furthermore, this study can provide policy implications for the green development of the Belt and Road.

Trade embodied CO2 transfers from transportation sector: A nested multi-scale input-output perspective

As a major carbon-emitting sector, transportation promotes regional linkages and triggers embodied CO2 flows that accompany trade. This paper first constructs a ‘provincial-national-global’ multi-scale input–output (MSIO) model based on IO-nested technology. Then it evaluates the embodied CO2 in transportation-related trade (TTEC) flows between Chinese provinces and Belt and Road Initiative (BRI) countries, and assesses their driving factors from multi-scale regional and cross-sectoral. Empirical findings show that regions with large TTEC flows are mainly concentrated in the northeastern, eastern and southern areas of China. The construction sector is the largest contributor to exported TTEC, while the energy sector has the largest imported TTEC. Singapore and India are the main exporting countries of TTEC from China, and India and Russia occupy a dominant position in importing TTEC. Finally, policy implications are put forward, that should provide quantitative and theoretical support for decision-making on reducing carbon in transportation between China and BRI regions.

Influence of renewable energy infrastructure, Chinese outward FDI, and technical efficiency on ecological sustainability in belt and road node economies

Renewable energy infrastructure is highly interrelated to environmental sustainability and the accomplishment of sustainable development goals. A significant portion of China's outward foreign direct investment (FDI) has been allocated to energy production and transmission across the Belt and Road Initiative (BRI) region. Therefore, we examine the influence of renewable energy infrastructure, China's outward FDI, and the host country's technical efficiency on ecological sustainability. This research uses the cross-sectional autoregressive distributive lag (CS-ARDL) model to address the issues of parameter and cross-sectional heterogeneity. The findings show that renewable energy infrastructure and technical efficiency significantly reduce carbon emissions in the long run. Likewise, FDI inflows and economic growth increase emissions in the BRI region due to higher energy consumption. Moreover, the direct effect of FDI on environmental quality is negative, while the indirect impact through moderation of FDI and renewable energy infrastructure leads to lower emissions. These results implied that the reallocation of inward FDI in energy infrastructure neutralizes the negative consequences, improves energy efficiency, and resultantly lower emissions. Therefore, it opens new policy implications that we focus more on investing FDI in the energy infrastructure sector.

Dataset of temperature and precipitation over the major Belt and Road Initiative regions under different temperature rise scenarios

ABSTRACT Changes in temperature and precipitation have a profound effect on the ecological environment and socioeconomic systems. In this study, we focus on the major Belt and Road Initiative (BRI) regions and develop a dataset of temperature and precipitation at global temperature rise targets of 1.5°C, 2°C, and 3°C above pre-industrial levels under the Representative Concentration Pathway (RCP) 8.5 emission scenario using 4 downscaled global model datasets data at a fine spatial resolution of 0.0449147848° (~5 km) globally from EnviDat. The temperature variables include the daily maximum (Tmax), minimum (Tmin) and average (Tmp) surface air temperatures, and the diurnal temperature range (DTR). We first evaluate the performance of the downscaled model data using CRU-observed gridded data for the historical period 1986–2005. The results indicate that the downscaled model data can generally reproduce the pattern characteristics of temperature and precipitation variations well over the major BRI regions for 1986–2005. Furthermore, we project temperature and precipitation variations over the major BRI regions at global temperature rise targets of 1.5°C, 2°C, and 3°C under the RCP8.5 emission scenario based on the dataset by adopting the multiple-model ensemble mean. Our dataset contributes to understanding detailed the characteristics of climate change over the major BRI regions, and provides data fundamental for adopting appropriate strategies and options to reduce or avoid disadvantaged consequences associated with climate change over the major BRI regions. The dataset is available at https://doi.org/10.57760/sciencedb.01850.

The effect of China’s outward foreign direct investment on carbon intensity of Belt and Road Initiative countries: A double-edged sword

The objective of this study is to identify the double-edged sword effect of China’s outward foreign direct investment (OFDI) on carbon intensity of Belt and Road Initiative (BRI) countries. To this end, a two-tier stochastic frontier model is employed to estimate the two-sided effects of China’s OFDI simultaneously based on a sample of 56 BRI countries covering the period from 2005 to 2018. The empirical results show that China’s OFDI has both promotion effect and reduction effect on carbon intensity of BRI countries and the BRI region on average is left with a net reduction effect of approximately -3.0%. Such net effect of China’s OFDI on carbon intensity varies over time and across countries. Furthermore, the net effect of China’s OFDI varies with different levels of economic development, energy consumption, industrialization, and urbanization of individual BRI countries. Policy implications are provided for both China and BRI countries to promote sustainable cooperation and accelerate low-carbon development in BRI region.

Status and Prospect of Ecological Environment in the Belt and Road Initiative Regions.

With the widespread recognition and in-depth implementation of the Belt and Road Initiative (BRI), especially in the context of global climate change, the ecological environment of Belt and Road Initiative regions might be confronted with pressures and challenges with rapid socioeconomic development. In response to those potential environmental challenges, China has put forward Green BRI and enriched the new Silk Road with more environmental connotations, aiming to reduce the conflict between economic development and eco-environmental protection. Currently, there is a lack of systematic and holistic research on eco-environmental issues in BRI regions. In addition, feasible solutions to enhance BRI's contribution to the eco-environment remain insufficient. Having systematically reviewed the relevant literature on the eco-environment in BRI regions, we found that most regions along the BRI routes are in sensitive zones of climate and geological change, with fragile eco-environments and strong vulnerability to climate change, natural disasters and human activities. The main eco-environment status of the BRI regions is as follows: (1) The total water resources in BRI regions account for only 36% of the global total, with uneven distribution and complex spatial precipitation, posing higher pressure on water security. (2) Vegetation varies significantly from region to region. The vegetation in South Asia is the richest, with its mean annual NDVI exceeding 0.7. The NDVI in East Europe, Russia and South China are between 0.4 and 0.7, and that in Central Asia and West Asia are below 0.2. (3) The BRI regions are abundantly blessed with natural resources, with the total recoverable oil reserves, natural gas reserves and the total mining area reaching 66%, 65.5% and 42.31% of the world's total, respectively, but severe overexploitation and overconsumption of those resources degrade their eco-environment. Accordingly, future research directions, such as target on integrated, interdisciplinary and coordinated studies on eco-environmental issues in BRI regions, are proposed in this paper to achieve optimization of BRI's contribution to eco-environment protection in BRI regions.

Investigating the impact of multi-dimensional urbanization and FDI on carbon emissions in the belt and road initiative region: Direct and spillover effects

The climate ambition led by the net zero goal has prompted growing concern among international organizations about the carbon emissions effects of urbanization and foreign direct investment (FDI) in the Belt and Road Initiative (BRI) region. Due to the limited data experiments, the direction and externalities of the impact of urbanization and FDI on carbon emissions in the BRI region remain largely unclear, and accounting for urbanization is also isolated. To address this knowledge gap, this study quantified the direct and spillover effects of multi-dimensional urbanization and FDI on carbon emissions using multiple remote sensing data from 2000 to 2018. The study explored the spatial distribution, evolutionary trends, bivariate evolutionary relationships, and influence mechanisms of carbon emissions with multi-dimensional urbanization and FDI by combining temporal trend (Slope), bivariate spatial autocorrelation, spatial Durbin model (SDM), and other methods. The results indicate that from 2000 to 2018, the total BRI carbon emissions added 253 million tons at an average annual growth rate of 3.68%; since 2013, the average annual growth rate has dropped sharply to 1.34%. East and South Asian countries (especially China and India) posted the highest increase in carbon emissions and had faster growth rates in multi-dimensional urbanization and FDI. Only some European countries, such as France and Germany, achieved overall carbon reduction. The results highlight the adaptability of the “Environmental Kuznets Curve” hypothesis. The “Low-Low” was the main cluster type of the evolutionary trends of carbon emissions associated with each variable. Multi-dimensional urbanization and FDI directly contributed to local carbon emissions, but the effects have gradually weakened over time (except for land urbanization). After controlling for the direct effects, we found a widespread consistently enhanced positive effects of population urbanization and land urbanization on carbon emissions in adjacent areas (especially after the BRI implementation), while FDI reduced the direct impact and strengthened the gain effect on carbon reduction in adjacent regions. Our findings confirm the importance of integrating policies to reduce emissions in population, economy, land, and foreign investment and provide strong evidence for joint governance of carbon emissions among BRI countries.

Dynamic Influence of Digital and Technological Advancement on Sustainable Economic Growth in Belt and Road Initiative (BRI) Countries

Digital and technological transformation has gained significant attention not only due to the exposure of the latest technologies but also due to its considerable impact on sustainable economic growth. This research determines the influence of digital and technological advancement on sustainable economic growth. Digital and technological advancement is composed of three variables; E-government Development Index (EGDI), Internet Users’ (IU) growth, and information and communications technology (ICT) exports. Besides that, the urbanization and unemployment rate have been considered as control variables. The dataset consists of the year 2004–2020 for 21 Asian region partner countries along Belt and Road (BRI) region. The conclusions of the two-step system GMM were validated through the D-K fixed effect regression technique. Findings indicate that increase in EGDI, ICT exports, and internet users’ growth has a significant and positive influence on sustainable economic growth which leads that digital and technological advancement having a positive influence on sustainable economic growth. Moreover, urbanization has a partial positive impact, while unemployment has a negative influence on sustainable economic growth as Asian regions are emerging economies and the rate of unemployment is very high, which is affecting the real GDP per capita. It is evident and suggested that improvement in the EGDI index, internet users’ growth, ICT exports, and reduction in the unemployment rate would enhance the balanced sustainable economic growth for all Asian countries of the BRI region.

Evaluating the Resources and Environmental Carrying Capacity in Laos Using a Three-Dimensional Tetrahedron Model.

(1) Background: The quantitative evaluation and comprehensive measurement of resources and environmental carrying capacity (RECC) are key links in the study of RECC from classification to synthesis. Laos, as the only landlocked country of Mainland Southeast Asia (MSEA), is an important economic corridor (i.e., China-MSEA Economic Corridor) of the Belt and Road Initiative (BRI). (2) Methods: Based on the human settlements index (HSI), resource carrying index (RCI), and socio-economic development index (SDI), here, a three-dimensional tetrahedron model for the comprehensive assessment of RECC with equilibrium significance was constructed, including HSI-based suitability classification, RCI-based restrictive classification, and SDI-based adaptability classification. Taking provinces as the basic unit, we quantitatively assessed and comprehensively evaluated RECC in Laos using a three-dimensional tetrahedron model. (3) Results: The human settlement environment in Laos is mainly characterized by the moderate suitable category (85%), while the high suitability area (merely 5%) supports more than 30% of the total population. Laos had over 90% of its area in good condition in resources and environmental carrying status (surplus or balanced state), translating into more than 95% of the population. The social and economic development level is mainly characterized by low-level development (43%), with nearly 30% of the population living in these low-level areas. The comprehensive bearing state of resources and environment is characterized by surplus, and 85% of the population is distributed in the surplus area, which occupies 63% of the land. (4) Conclusions: It is possible to better explore the adaptation strategies and countermeasures for enhancing RECC in Laos and provide a scientific reference for regional sustainable development. We believe that the three-dimensional tetrahedron method can be applied to quantitatively evaluate and comprehensively measure RECC at larger scale, e.g., the BRI regions.

The impact of green finance on environmental degradation in BRI region.

The Belt and Road Initiative (BRI) is one of the largest infrastructure projects in the world, accounting for more than 30% of global GDP and 60% of world population. The economic growth of BRI member countries can be improved significantly, attributable to the successfulness of the infrastructure projects. The increased economic growth indirectly leads to higher energy consumption and environmental damage. In response to this, the BRI established a new concept and version of the project, namely green BRI. Thus, this study aims to examine if green finance plays a significant role in mitigating environmental degradation in the BRI region. Utilising a Generalised Method of Moments approach, we find green finance is negatively and significantly correlated with environmental degradation, suggesting green finance play an essential role to reduce the deterioration of environmental quality, while enhancing economic growth at the same time. In conclusion, BRI member states should continue promoting green finance by implementing incentive schemes, such as subsidising interest rates for the green loan, reducing corporate tax and establishing green credit guarantee scheme. Besides, in order simultaneously enhance economic growth, promote sustainability and achieve the 2030 Sustainable Development Goals, both governments and private sector should work hand in hand to promote green transformation of BRI.

Evaluating the Agricultural Carbon Shadow Price in Countries along the Belt and Road Initiative

Agriculture is considered a sector with an essential contribution to carbon emissions in the Belt and Road Initiative (BRI) countries. This paper innovatively uses the by-production process to analyze the agricultural carbon shadow price (CSP) and agricultural production performance in the BRI countries. The results show that the agricultural CSP for the countries has a decreasing trend. However, the agricultural CSP varies significantly across regions, highest in China and India and lowest in Russia and CEE countries. This study provides more detailed and comprehensive insights into sustainable agricultural development in the BRI regions. The BRI countries need to improve agricultural production efficiency to reduce carbon emissions and strengthen international cooperation in agriculture.

Clean technology and the environment: Key issues and implications in belt and road initiative economies

China has planned the Belt and Road Initiative to start collaborations among relevant economies in the technology innovation sector. This study examined the impact of technology innovation on environmental quality among the host economies of Belt and Road Initiative (BRI) countries by using panel data of 45 economies from 1991 to 2019. The study employed a fully modified ordinary least squares (FMOLS) panel to estimate the long-run associations among suggested variables. The outcomes validated a healthy cross-sectional dependence within the panel BRI economies. One estimated result of FMOLS specified that increases in patents and trademarks improved the quality of the environment in only Europe in the long run. Trademarks also enhanced the environment in BRI, MENA, and Central Asia. In the short run, the panel heterogeneous causality showed bi-directional causality among patents, trademarks, and CO2 emissions. The results of this study articulated the environment-friendly policies in technology innovation in BRI regions.