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Lecture on The Belt and Road Initiative and Chinese Firms’Outward Foreign Direct Investment
DateandTime: 2018-05-22 14:42:56

Speaker: Qian Xingwang, Associate Professor at University of Buffalo, The State University of New York.

Date: May 23, 2018

Time: 3:00p.m. to 5:00p.m.

Location: B321, Zhixin Building, Central Campus

Sponsor: School of Economics, Shandong University

Abstract:

This paper studies the impact of China’s“Belt and Road Initiative”(BRI) on Chinese firms’outward foreign direct investment (OFDI). The BRI is found to have an overall positive impact on Chinese OFDI activities. However, the direction and magnitude of such impact depend on the willingness of host counties to cooperate and participate in the BRI. The BRI prefers Chinese firms to investing in emerging markets and developing economics (EMDEs) that welcome China’s economic engagement. We find empirical evidence that the BRI alters the effect of domestic push factors on Chinese OFDI patterns, which may facilitate China to address the needs of her economic rebalance. In addition, Chinese firms in construction and infrastructure, manufacturing, and trade related sectors are found to be more responsive to the BRI than firms in other sectors. While both state-owned and private enterprises invest more abroad after the launch of the BRI, private enterprises base their investment decisions more on host countries’ attitude towards the BRI than state-owned enterprises.

Bio:

Professor Qian Xingwang is from University of Buffalo, The State University of New York. He graduated from University of California, Santa Cruz and got his Ph. D. His main research interests include International Finance, International Economics and Trade, Movement of Capital, Chinese Economy and Emerging Markets, etc. He has published ten more academic papers on academic journals such as Journal of International Money and Finance, Review of International Economics, Review of Development Economics, China Economic Review, etc.

Source: view.sdu.edu.cn

Translated by Yin Qize

Edited by Zhang Xinyuan




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