The Impact of the Belt and Road Initiative on the Investment Efficiency of Enterprises

Xinrui Xu ()
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Xinrui Xu: Massey Institute, Nanjing University of Finance and Economics

A chapter in Proceedings of the 2026 11th International Conference on Financial Innovation and Economic Development (ICFIED 2026), 2026, pp 187-203 from Springer

Abstract: Abstract As a national-level top-level cooperation strategy, the Belt and Road Initiative’s impact on the investment efficiency of enterprises is an important micro-dimension for measuring its economic effects. This paper constructs a two-dimensional empirical framework of ‘holistic-heterogeneous’ based on the residual model of Richardson (2006) to systematically examine the impact of the ‘Belt and Road’ policy on the investment efficiency of enterprises and its differentiated effects. The research results show that: First, the ‘Belt and Road Initiative’ policy significantly enhances the investment efficiency of enterprises; Secondly, there is obvious heterogeneity in policy effects. Based on the research conclusions, this paper provides countermeasures and suggestions for improving the investment efficiency of enterprises under the background of the ‘Belt and Road Initiative’ from different aspects.

Keywords: The Belt and Road Initiative; Enterprise investment efficiency; Richardson residual model; Enterprise growth cycle (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6239-642-5_21

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DOI: 10.2991/978-94-6239-642-5_21

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