 How Does Infrastructure Construction Affect Economic Development along the “Belt and Road”: By Promoting Growth or Improving Distribution?Guangning Tian and Juncheng Li Emerging Markets Finance and Trade, 2019, vol. 55, issue 14, 3332-3348 Abstract: The “Belt and Road Initiative” has involved deepening infrastructure construction along the “Belt and Road”. Using data from countries who have joined the “Belt and Road”, this study examines how infrastructure construction has affected economic development along the route. Findings show that infrastructure construction can promote economic growth and per capita output growth while improving income distribution of residents along the “Belt and Road”. Results also indicate that the effect of infrastructure construction on economic development is heterogeneous; such construction can substantially increase economic growth in developing countries but has no significant effect on economic growth in developed and emerging developing countries. Infrastructure construction can greatly improve residents’ income distribution in developed and developing countries but has no significant effect on residents in emerging developing countries. Collectively, these findings identify foreign direct investment and urbanization as important channels through which infrastructure construction can influence economic development. Date: 2019 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:mes:emfitr:v:55:y:2019:i:14:p:3332-3348 Ordering information: This journal article can be ordered from DOI: 10.1080/1540496X.2019.1607725 Access Statistics for this article More articles in Emerging Markets Finance and Trade from Taylor & Francis Journals |
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