The Belt and Road Initiative and China's Export: A Soft Power Perspective

Jiadong Tong (), Ziliang Yu (), Jiayun Xu () and Meng Tong ()
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Jiadong Tong: School of Economics, Nankai University, Tianjin 300371, China; APEC Study Center, Nankai University, Tianjin 300371, China
Ziliang Yu: School of Finance, Nankai University, Tianjin 300350, China
Jiayun Xu: APEC Study Center, Nankai University, Tianjin 300371, China
Meng Tong: Department of Economics, University of Birmingham, Birmingham B152TT, UK

Frontiers of Economics in China-Selected Publications from Chinese Universities, 2020, vol. 15, issue 3, 313-354

Abstract: Using a newly built soft power index, we examine whether and how soft power affects Chinese firm-level export to the Belt and Road (B&R) countries from 2000 to 2016. We find that soft power has significantly positive effects on both export value and export product types for the B&R countries. These effects are more pronounced than those for non-B&R countries and differ not only between the "Belt" and the "Road" countries but also regional groups, firm ownerships, modes of trade, and sectors. Further analysis shows that soft power increases the intensive margin of exports by approximately three times that of the extensive margin. Thus, our findings provide a new perspective for understanding both the Belt and Road Initiative (BRI) and the contemporary economic evolution occurring in China.

Keywords: Belt and Road Initiative (BRI); soft power; export; international trade; China (search for similar items in EconPapers)
JEL-codes: D22 F14 F42 (search for similar items in EconPapers)
Date: 2020
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