China's Belt and Road Initiative: Can Europe Expect Trade Gains?

@article{GarciaHerrero2016ChinasBA,
  title={China's Belt and Road Initiative: Can Europe Expect Trade Gains?},
  author={Alicia Garcia-Herrero and Jianwei Xu},
  journal={Institutions \& Transition Economics: Political Economy eJournal},
  year={2016}
}
The Belt and Road initiative, recently embarked on by China, aims to improve cross-border infrastructure in order to reduce transportation costs across a massive geographical area between China and Europe. We estimate how much trade might be created among Belt and Road countries as a consequence of the reduction in transportation costs (both railway and maritime) and find that European Union countries, especially landlocked countries, should benefit considerably. This is also true for eastern… 
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