Risk or opportunity? The Belt and Road Initiative and the role of debt in the China-Central Asia-West Asia Economic Corridor
Bibliographic Data
| ID | 12777932 |
|---|---|
| Authors | Nienke van Twillert (0000-0002-0602-5167, Wageningen University & Research, corresponding author), Sol Maria Halleck Vega (0000-0001-8354-0026, Wageningen University & Research) |
| Year | 2021 |
| Volume | 64 |
| Issue | 3 |
| Pages | 365-377 |
| Publication date | 2021-12-09 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Eurasian Geography and Economics (JOURNAL) |
| Journal identifiers | ISSN: 1538-7216 • E-ISSN: 1938-2863 |
| Publisher | Taylor & Francis (PUBLISHER • GB) |
| DOI | 10.1080/15387216.2021.2012816 |
| OpenAlex | W4200071767 |
| Language | EN |
| Citations received | 3 |
| References cited | 28 |
This Research Note provides an empirical contribution to the discussion on the debt implications vis-à-vis the unfolding of the Belt and Road Initiative (BRI). For this purpose, we analyze the impact of external debt and other relevant factors on the economies of the China-Central Asia-West Asia Economic Corridor using panel data over the period 1996–2018. The reasons we focus on this geographic area are threefold: first, these countries form a key part of the BRI with historical connections to the Silk Road; second, it provides a unique combination of economies in transition such as the former Soviet Union countries and larger economies such as Iran and Turkey; and last but not least, this corridor has received relatively less attention in the related literature. Among the main findings is that debt service on external debt has a positive effect on GNI per capita, both with and without China in the empirical analysis. As another key component of this major development strategy, infrastructure is also found to have a positive impact. The results thus foreshadow growing opportunities as the BRI unfolds, albeit with foreseen issues related to debt sustainability, ecological and wellbeing considerations
Archaeology · Business · Central asia · China · Debt · Development economics · Economics · Economy · Environmental protection · Geography · Physical geography · Political science · Belt and Road Initiative · Global trade and economics · International Development and Aid · Finance
Econometric Analysis of Panel Data
Public debt and growth
FDI and economic growth
Chinese and Development Assistance Committee (DAC) development cooperation and development finance
The Belt and Road Initiative
The New Silk Roads
A road, a disappearing river and fragile connectivity in Sino-Inner Asian borderlands
Institutions
China's Belt and Road Initiative in Central Asia and the Middle East
An Inquiry into the Nature and Causes of the Wealth of Nations
| Citations per year | 1.5 |
|---|---|
| Citation span | 2024 - 2025 (2) |
| Highly cited | No |