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

  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},
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… 
China's One Belt One Road Initiative: The Impact of Trade Facilitation Versus Physical Infrastructure on Exports
The One Belt One Road (OBOR) project is perhaps China's most significant international relations initiative in recent times. It is based on openness, harmony, inclusivity, mutual benefit and market
Impact of Belt and Road Initiative (BRI) on China and South Asia Trade Integration
Belt and Road Initiative (BRI) is one of the noteworthy initiatives of the Chinese government. It has been intended to interface neighboring 65 nations to enhance inter-regional international trade.
New Silk Road—A Geo-economic Assessment with a Focus on the European Region
The New Silk Road or Belt and Road Initiative corresponds to an enormous international infrastructure investment program launched and largely financed by the People’s Republic of China and providing
Has China’s Belt and Road Initiative Intensified Bilateral Trade Links between China and the Involved Countries?
The Belt and Road Initiative (BRI) is designed to intensify reciprocal trade preferentiality between China and the Belt-Road countries. However, there has been little research empirically examining
Economic Expectations of the Belt and Road Initiative for the South Caucasus, with Emphasis on Georgia
Georgia, a post-soviet country, located in the South Caucasus at a crossroads of Europe and Asia, presents Europe’s natural gateway towards Asia. The Belt and Road Initiative, also known as the One
China connecting Europe?
The article descriptively shows a geographical division of Chinese infrastructure development activities in Europe: the “17 + 1” region is targeted more intensively by Chinese construction projects, while Chinese activities in other European regions are more diversified.
How will the Belt and Road initiative advance China’s exports?
ABSTRACT We examined 2007, 2010, 2012, 2014, and 2016 data from 49 countries to determine changes wrought by China’s Belt and Road initiative; we also used panel data regarding the Maritime Silk and
The new silk road: The European Union, China and the future of trade
Transport costs are one of the crucial factors that shape the world trade patterns. In order to promote transport facilitation and to create an environment for a more efficient flow of goods Chinese
China’s Belt and Road Initiative and business strategies in the Baltic Sea Region
Summary The purpose of this article is to analyse the influence of China’s Belt and Road Initiative (BRI) on the strategies of firms operating in the Baltic Sea Region (BSR). Based on the case study
The Belt and Road Initiative ’ s Impact on Sino – European Trade : The Role of the “ Belt ” and Railway Infrastructure
This paper analyzes the impact of the Belt and Road Initiative on Europe with a specific focus on Italy. We concentrate on the impact of new railways and port infrastructures on bilateral trade. Our


Gravity with Gravitas: A Solution to the Border Puzzle
The gravity model has been widely used to infer substantial trade flow effects of institutions such as customs unions and exchange rate mechanisms. McCallum [1995] found that the US-Canada border led
The Log of Gravity
Abstract Although economists have long been aware of Jensen's inequality, many econometric applications have neglected an important implication of it: under heteroskedasticity, the parameters of
Transport China” [online; cited 31 July 2017
  • Available from: http://www.
  • 2016
Rail based transports between China and Europe’, available at Simeon Djankov
  • PIIE Briefing 16-2,
  • 2012
Chinese views and commentary on the ‘One Belt, One Road’ Initiative,” China Leadership Monitor, No. 47 [online: cited 1 August 2017
  • 2015
Chinese views and commentary on the 'One Belt, One Road' Initiative
  • China Leadership Monitor
Development of the trans-Asian railway: Trans-Asian railway in the southern corridor of Asian-Europe routes