Green finance for soft power: An analysis of China's green policy signals and investments in the Belt and Road Initiative

Nedopil, Christoph

doi:10.1002/eet.1965

Cited by 42 publications

(17 citation statements)

References 26 publications

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“…Although research on BRI and EV is minimal, we think our results are consistent with existing research on the shock impact of Chinese products on local products (Ostashko et al 2021) and BRI investment information (mainly in energy and transportation industries) (Institute for Belt and Road Economic and Trade Cooperation 2021; Nedopil Wang 2021).…”

Section: Discussionsupporting

confidence: 90%

The Belt and Road Initiative and export variety: 1996–2019

Lu,

Wolszczak‐Derlacz

2024

Asian-Pac Economic Lit

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This study examines the association between the Belt and Road Initiative (BRI) and export variety (EV). We propose three hypotheses on how BRI may foster export markets (destinations) or export product lines. The estimates are based on a dataset constructed specifically for this analysis, covering 183 countries and linked with trade data from 1996 to 2019. We apply the instrumental variable (IV) approach in regressions for covering the endogeneity. The results indicate that participation in BRI is negatively related to EV. Specifically, we find evidence that, on average, BRI participants have less EV (by product and by destination) and greater export concentration. As regards participation in the Asian Infrastructure Investment Bank and BRI meanwhile (AIIB_BRI and AIIB_MOU), the results show a more negative effect. And there are heterogeneous effects of BRI across different economies and sectors.

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Section: Discussionsupporting

confidence: 90%

The Belt and Road Initiative and export variety: 1996–2019

Lu,

Wolszczak‐Derlacz

2024

Asian-Pac Economic Lit

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“…The BRI promotes a new type of globalization in terms of industrialization, infrastructure, and urbanization, accelerating trade, FDI, and frequency of personnel exchanges. The income, technological and compositional effects of economic and social global cooperation have had some positive impact on the environment of the country (Nedopil, 2022). Column (4)–(9) present the moderating effect of the two decomposition paths, GTC and GEC.…”

Section: Empirical Results and Discussionmentioning

confidence: 99%

Innovation capability, global cooperation, and sustainable development along the Belt and Road Initiative

Wang,

Gong,

Yang

2023

Sustainable Development

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Although the Belt and Road Initiative (BRI) has become the largest global platform for economic, social, and energy cooperation, there remains a question of how to effectively utilize its globalizing role to promote sustainable development among the countries along the route. Innovation capability is identified as the key to resolving sustainable development issue, because innovation capability has the potential to effectively reconcile the conflict between economic development and environmental conservation. Therefore, this study has opted to utilize a sample of 99 countries across the globe, comprising of 78 BRI countries and 21 non‐BRI countries. The DDD model has been employed to examine the impact of innovation capability on sustainable development in the BRI. The result shows that BRI can contribute to the achievement of green sustainable development. Innovation serves as an effective means to improve green sustainable development, which can be achieved through green technical progress and green technical efficiency. In addition, global cooperation has a significant moderating effect on this outcome, with the foreign direct investment and trade capability being the main moderators of economic global cooperation, while digital capability, infrastructure, and social exchange are the main moderators of social global cooperation. Finally, in the regional heterogeneity analysis, we find that the results of the role of the four continents are more consistent with the regression results of the total world sample, the difference being that the moderating role of global cooperation is not consistent across states.

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“…However, due to uncertainty factors, the decision‐making process of enterprises presents complexity. In addition to its inherent financial characteristics, green finance serves as a signaling tool for policy (Nedopil, 2022). Industrial enterprises typically learned about the arrival of green transformation opportunities through both the adoption of green finance policies put forth by the government and the production innovation from the financial sector.…”

Section: Theoretical Framework and Hypothesis Developmentmentioning

confidence: 99%

Green finance, environment regulation, and industrial green transformation for corporate social responsibility

Chen

Chang

2023

Corp Soc Responsibility Env

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In order to meet the strategic goals of carbon peak and carbon neutralization on schedule, it is crucial to examine the effects and limitations of green finance on the green transformation of industry. This research utilizes the entropy method, the Global Malmquist–Luenberger technique, and panel data of 30 provinces in China from 2005 to 2018 to estimate the extent of industrial green transformation and green finance development in each province. It builds static and dynamic panel models to experimentally examine the effect of green finance on industrial green transformation. After introducing environmental regulation (ER), this paper presents how ER influences the link between green finance and industrial green transformation. The research finds the following. (1) According to geographical differences in the growth of green finance and industrial green transformation, the economically developed east region is more advanced than the central and west regions, and the central region is more advanced than the west region. (2) Green finance has a significantly positive impact on industrial green transformation, and this positive influence has certain continuity and inertia. (3) Environmental regulation has a favorable impact on the link between green finance and industrial green transformation; specifically, a rise in the level of environmental regulation stimulates the process of green finance that boosts industrial green transformation. The policy recommendations herein offer reference for the construction of China's green financial system and the promotion of industrial green transformation for CSR.

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Green finance for soft power: An analysis of China's green policy signals and investments in the Belt and Road Initiative

Cited by 42 publications

References 26 publications

The Belt and Road Initiative and export variety: 1996–2019

The Belt and Road Initiative and export variety: 1996–2019

Innovation capability, global cooperation, and sustainable development along the Belt and Road Initiative

Green finance, environment regulation, and industrial green transformation for corporate social responsibility

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