The role of infrastructure on economic growth in belt and road participating countries
Purpose This study aims to delve deeply into the role of infrastructure on economic growth in 59 belt and road initiative (BRI) participating countries from various regions of the world as the main objective of BRI is to encourage the participating countries to improve investment and trade facilitat...
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my.um.eprints.351632022-09-07T00:32:04Z http://eprints.um.edu.my/35163/ The role of infrastructure on economic growth in belt and road participating countries Chin, Mui-Yin Ong, Sheue-Li Wai, Chew-Keong Kon, Yee-Qin HB Economic Theory Business Purpose This study aims to delve deeply into the role of infrastructure on economic growth in 59 belt and road initiative (BRI) participating countries from various regions of the world as the main objective of BRI is to encourage the participating countries to improve investment and trade facilitation via infrastructure. Besides, the development of infrastructure is in line with the United Nations' 2030 sustainable development goals (SDG). Design/methodology/approach This study encompasses all of the important physical infrastructure factors to compute a composite infrastructure index. Thereafter, this study used both the panel cointegration and the panel Granger causality tests to investigate the impact of the infrastructure index and other essential factors on economic growth. Findings The empirical results signify the importance of infrastructure development on economic growth in both the long-run and short-run. Besides, it is evident that capital, expenditure on health and education, as well as exports, will accelerate economic growth. Originality/value The findings of this study could contribute to the literature regarding BRI in two ways. First, it will provide insight to the policymakers of China and the BRI participating countries on whether infrastructure development is worthy of huge investment so as to enhance the success of the BRI. Second, the outcome of this study will give policymakers a better understanding of the determinants of economic growth, which, in turn, will help them in designing effective policies. Emerald Group Publishing Ltd 2021-05-10 Article PeerReviewed Chin, Mui-Yin and Ong, Sheue-Li and Wai, Chew-Keong and Kon, Yee-Qin (2021) The role of infrastructure on economic growth in belt and road participating countries. Journal of Chinese Economic and Foreign Trade Studies, 14 (2). pp. 169-186. ISSN 1754-4408, DOI https://doi.org/10.1108/JCEFTS-09-2020-0065 <https://doi.org/10.1108/JCEFTS-09-2020-0065>. 10.1108/JCEFTS-09-2020-0065 |
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HB Economic Theory Business Chin, Mui-Yin Ong, Sheue-Li Wai, Chew-Keong Kon, Yee-Qin The role of infrastructure on economic growth in belt and road participating countries |
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Purpose This study aims to delve deeply into the role of infrastructure on economic growth in 59 belt and road initiative (BRI) participating countries from various regions of the world as the main objective of BRI is to encourage the participating countries to improve investment and trade facilitation via infrastructure. Besides, the development of infrastructure is in line with the United Nations' 2030 sustainable development goals (SDG). Design/methodology/approach This study encompasses all of the important physical infrastructure factors to compute a composite infrastructure index. Thereafter, this study used both the panel cointegration and the panel Granger causality tests to investigate the impact of the infrastructure index and other essential factors on economic growth. Findings The empirical results signify the importance of infrastructure development on economic growth in both the long-run and short-run. Besides, it is evident that capital, expenditure on health and education, as well as exports, will accelerate economic growth. Originality/value The findings of this study could contribute to the literature regarding BRI in two ways. First, it will provide insight to the policymakers of China and the BRI participating countries on whether infrastructure development is worthy of huge investment so as to enhance the success of the BRI. Second, the outcome of this study will give policymakers a better understanding of the determinants of economic growth, which, in turn, will help them in designing effective policies. |
format |
Article |
author |
Chin, Mui-Yin Ong, Sheue-Li Wai, Chew-Keong Kon, Yee-Qin |
author_facet |
Chin, Mui-Yin Ong, Sheue-Li Wai, Chew-Keong Kon, Yee-Qin |
author_sort |
Chin, Mui-Yin |
title |
The role of infrastructure on economic growth in belt and road participating countries |
title_short |
The role of infrastructure on economic growth in belt and road participating countries |
title_full |
The role of infrastructure on economic growth in belt and road participating countries |
title_fullStr |
The role of infrastructure on economic growth in belt and road participating countries |
title_full_unstemmed |
The role of infrastructure on economic growth in belt and road participating countries |
title_sort |
role of infrastructure on economic growth in belt and road participating countries |
publisher |
Emerald Group Publishing Ltd |
publishDate |
2021 |
url |
http://eprints.um.edu.my/35163/ |
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1744649220181196800 |
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13.160551 |