Institutional effects of Chinese OFDI under the Belt and Road Initiative: exporting the Chinese model?

Kunling Zhang

Journal of the Asia Pacific Economy, 2024, vol. 29, issue 3, 1212-1238

Abstract: China has frequently been accused of having negative institutional impacts on host countries through outward foreign direct investment (OFDI). This study argues that Chinese OFDI does not have the ability nor the wiliness to impact the host country’s institutions. It examines the hypotheses using panel data covering 161 countries over the period 2005–2020 and applies difference GMM regression techniques. The findings show that, first, Chinese OFDI has no significant institutional effects; second, there is no clear evidence shows the BRI has an impact on the institutional effects of Chinese OFDI. Further heterogeneity analysis supports these findings.

Date: 2024
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DOI: 10.1080/13547860.2022.2157972

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