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The dynamic changes and influence mechanisms of export complexity of China's A-share listed companies under the "Belt and Road" initiative

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Listed:
  • Xie, Wenkai
  • Bi, Chunxiao
  • Li, Hao
  • Liu, Huajie

Abstract

Since the Belt and Road Initiative was put forward, the scale of China's export trade in the regions along the routes has generally shown growth, while the technological content of export products has also been steadily improved. This study analyzes the impact of the "Belt and Road" initiative on the export complexity of A-share listed companies by using the Difference in Differences (DiD) model with the panel data of A-share listed companies in China from 2008 to 2022. It is found that the implementation of the "Belt and Road" initiative significantly contributes to the increase of export complexity of A-share listed companies in China. Further analysis shows that government subsidies, alleviation of financing constraints, and increased Internationalization play a significant mediating role between the Belt and Road Initiative and the increase in export sophistication of A-share listed companies. This study provides a new perspective to understand how the Belt and Road Initiative affects firms' export behavior through multiple channels, which is an important reference for policy makers and firms' strategic decisions.

Suggested Citation

  • Xie, Wenkai & Bi, Chunxiao & Li, Hao & Liu, Huajie, 2025. "The dynamic changes and influence mechanisms of export complexity of China's A-share listed companies under the "Belt and Road" initiative," Finance Research Letters, Elsevier, vol. 85(PA).
    • Handle: RePEc:eee:finlet:v:85:y:2025:i:pa:s1544612325008335
    DOI: 10.1016/j.frl.2025.107574
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    References listed on IDEAS

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    1. Xu, Bin, 2010. "The sophistication of exports: Is China special?," China Economic Review, Elsevier, vol. 21(3), pages 482-493, September.
    2. Ari Van Assche & Byron Gangnes, 2010. "Electronics production upgrading: is China exceptional?," Applied Economics Letters, Taylor & Francis Journals, vol. 17(5), pages 477-482.
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