Quantifying Financing Needs in the Belt and Road Countries

Hongyi Chen, Tianjiao Jiang, Chen Lin and Hui Zhao

Emerging Markets Finance and Trade, 2019, vol. 55, issue 14, 3178-3210

Abstract: This paper provides a thorough analysis to quantify the financing needs in the Belt and Road countries during 2009 and 2014. By examining financial constraints using financial data of firms in the Belt and Road countries, this study constructs a Financing Needs Index for Belt and Road countries and highlights the characteristics of financing needs across 36 countries and 6 years. By further incorporating information from World Bank Enterprise Surveys, this paper builds an Augmented Financing Needs Index for 56 Belt and Road countries. The findings of this paper provide important policy implications by showing that countries can improve their financial liberalization and institutional environment to address the financing needs of their indigenous firms and thus achieve economic growth.

Date: 2019
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DOI: 10.1080/1540496X.2019.1605593

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