Impact of the Belt and Road Initiative on China’s soft power: preliminary evidence

Jan P. VOON, Xinpeng XU

Research output: Journal PublicationsJournal Article (refereed)

Abstract

Using latest available international survey data on soft power and China’s overseas direct investment (ODI) statistics, this paper examines if China’s Belt and Road Initiative (BRI), commonly perceived as an institution setup by China to build cross-border infrastructure to bolster trade and investment, had increased China’s international image or soft power. We find that the overall impact of ODI in BRI countries on China’s soft power is statistically insignificant over the period 2011 to 2016, yet further analysis reveals that the investments in the BRI countries along the land route bring significant improvement in China’s soft power.
Original languageEnglish
JournalAsia-Pacific Journal of Accounting and Economics
Early online date3 Nov 2019
DOIs
Publication statusE-pub ahead of print - 3 Nov 2019

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Roads
China
Direct investment
Statistics
Survey data
Cross-border

Keywords

  • Belt and Road Initiative
  • Soft power
  • overseas direct investment

Cite this

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Impact of the Belt and Road Initiative on China’s soft power: preliminary evidence. / VOON, Jan P.; XU, Xinpeng .

In: Asia-Pacific Journal of Accounting and Economics, 03.11.2019.

Research output: Journal PublicationsJournal Article (refereed)

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AU - XU, Xinpeng

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N2 - Using latest available international survey data on soft power and China’s overseas direct investment (ODI) statistics, this paper examines if China’s Belt and Road Initiative (BRI), commonly perceived as an institution setup by China to build cross-border infrastructure to bolster trade and investment, had increased China’s international image or soft power. We find that the overall impact of ODI in BRI countries on China’s soft power is statistically insignificant over the period 2011 to 2016, yet further analysis reveals that the investments in the BRI countries along the land route bring significant improvement in China’s soft power.

AB - Using latest available international survey data on soft power and China’s overseas direct investment (ODI) statistics, this paper examines if China’s Belt and Road Initiative (BRI), commonly perceived as an institution setup by China to build cross-border infrastructure to bolster trade and investment, had increased China’s international image or soft power. We find that the overall impact of ODI in BRI countries on China’s soft power is statistically insignificant over the period 2011 to 2016, yet further analysis reveals that the investments in the BRI countries along the land route bring significant improvement in China’s soft power.

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