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Crowding-Out or Spillover: Reassessment on the Impact of the Belt and Road Initiative on Innovation Efficiency

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  • Tian Zhao

Abstract

This paper established a three-stage DEA model to measure the innovation efficiency of Chinese listed companies over the period 2008 to 2019, and then tested the impact of the Belt and Road Initiative on innovation efficiency with DID model. The results show that: (1) The innovation efficiency of enterprises along the Belt and Road are slightly lower than that of other enterprises, but the former improves faster. (2) The impact of the Belt and Road Initiative on innovation efficiency is mainly spillover and the impact tends to fluctuate upwards year by year. (3) The Belt and Road Initiative has effectively expanded the R&D capital stock, which is an important mediating factor in boosting the innovation efficiency.

Suggested Citation

  • Tian Zhao, 2023. "Crowding-Out or Spillover: Reassessment on the Impact of the Belt and Road Initiative on Innovation Efficiency," SAGE Open, , vol. 13(1), pages 21582440231, March.
    • Handle: RePEc:sae:sagope:v:13:y:2023:i:1:p:21582440231159858
    DOI: 10.1177/21582440231159858
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    References listed on IDEAS

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    1. Du, Julan & Zhang, Yifei, 2018. "Does One Belt One Road initiative promote Chinese overseas direct investment?," China Economic Review, Elsevier, vol. 47(C), pages 189-205.
    2. Gilles Duranton & Peter M. Morrow & Matthew A. Turner, 2014. "Roads and Trade: Evidence from the US," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 81(2), pages 681-724.
    3. Ajay Agrawal & Alberto Galasso & Alexander Oettl, 2017. "Roads and Innovation," The Review of Economics and Statistics, MIT Press, vol. 99(3), pages 417-434, July.
    4. Bastos, Paulo, 2020. "Exposure of belt and road economies to China trade shocks," Journal of Development Economics, Elsevier, vol. 145(C).
    5. Thomas J. Chemmanur & Karthik Krishnan & Debarshi K. Nandy, 2011. "How Does Venture Capital Financing Improve Efficiency in Private Firms? A Look Beneath the Surface," Review of Financial Studies, Society for Financial Studies, vol. 24(12), pages 4037-4090.
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    1. Tianjun Xu & Gangmin Weng & Wei Guo & Yidan Cao, 2023. "Spatio-Temporal Differentiation of Regional Innovation Chain: Evidence From Beijing-Tianjin-Hebei Region," SAGE Open, , vol. 13(4), pages 21582440231, December.

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