2,898
Views
10
CrossRef citations to date
0
Altmetric
Articles

The Belt and Road Initiative, sister-city partnership and Chinese outward FDI

ORCID Icon, ORCID Icon &
Pages 3416-3436 | Received 12 Mar 2020, Accepted 20 Oct 2021, Published online: 15 Nov 2021

References

  • Acemoglu, D., Johnson, S., & Robinson, J. A. (2001). The colonial origins of comparative development: An empirical investigation. American Economic Review, 91(5), 1369–1401. https://doi.org/10.1257/aer.91.5.1369
  • Ahern, K. R., Dminelli, D., & Fracassi, C. (2015). Lost in translation? The effect of cultural values on mergers around the world. Journal of Financial Economics, 117, 165–189. https://doi.org/10.1016/j.jfineco.2012.08.006
  • Aleksynska, M., & Havrylchyk, O. (2013). FDI from the south: The role of institutional distance and natural resources. European Journal of Political Economy, 29, 38–53. https://doi.org/10.1016/j.ejpoleco.2012.09.001
  • Baycan-Levent, T., Kundak, S., & Gulumser, A. A. (2008). City-to-city linkages in a mobile society: The role of urban networks in Eurocities and Sister Cities. International Journal of Services Technology and Management, 10(1), 83–109. https://doi.org/10.1504/IJSTM.2008.202349
  • Becker, S. O., Boeckh, K., Hainz, K., & Woessman, L. (2016). The empire is dead, long live the empire! Long-run persistence of trust and corruption in the bureaucracy. Economic Journal, 126(590), 40–74. https://doi.org/10.1111/ecoi.12220
  • Beugelsdijk, S., & Frijns, B. (2010). A cultural explanation of the foreign bias in international asset allocation. Journal of Banking & Finance, 34(9), 2121–2131. https://doi.org/10.1016/j.jbankfin.2010.01.020
  • Chan, C. M., Makino, S., & Isobe, T. (2010). Does subnational region matter? Foreign affiliate performance in the United States and China. Strategic Management Journal, 31(11), 1226–1243. https://doi.org/10.1002/smj.854
  • Che, Y., Du, J., Lu, Y., & Tao, Z. (2015). Once an enemy, forever an enemy? The long-run impact of the Japanese invasion of China from 1937–1945 in trade and investment. Journal of International Economy, 96(1), 182–198. https://doi.org/10.1016/j.jinteco.2015.01.001
  • Cheng, L. K. (2016). Three questions on China's “Belt and Road Initiative. China Economic Review, 40, 309–313. https://doi.org/10.1016/j.chieco.2016.07.008
  • Choi, J. J., Lee, S. M., & Shoham, A. (2016). The effects of institutional distance on FDI inflow: General environmental institutions (GEI) versus minority investor protection institutions (MIP). International Business Review, 25, 114–123. https://doi.org/10.1016/j.ibusrev.2014.11.010
  • Cremer, R. D., De Bruin, A., & Dupuis, A. (2001). International sister-cities: Bridging the global-local divide. American Journal of Economics and Sociology, 60(1), 377–401. https://doi.org/10.1111/1536-7150.00066
  • Cuervo-Cazurra, A. (2016). Corruption in international business. Journal of World Business, 51(1), 35–49. https://doi.org/10.1016/j.jwb.2015.08.015
  • Cuervo-Cazurra, A., Ciravegna, L., Melgarejo, M., & Lopez, L. (2018b). Home country uncertainty and the internationalization-performance relationship: Building an uncertainty management capability. Journal of World Business, 53(2), 209–221. https://doi.org/10.1016/j.jwb.2017.11.002
  • Cuervo-Cazurra, A., & Genc, M. (2008). Transforming disadvantages into advantages: Developing-country MNEs in the least developed countries. Journal of International Business Studies, 39, 657–979. https://doi.org/10.1057/palgrave.jibs.8400390
  • Cuervo-Cazurra, A., Inkpen, A., Musacchio, A., & Ramaswamy, K. (2014). Governments as owners: State-owned multinational companies. Journal of International Business Studies, 45(8), 919–942. https://doi.org/10.1057/jibs.2014.43
  • Cuervo-Cazurra, A., Luo, Y., Ramamuiti, R., & Ang, S. H. (2018a). The impact of the home country on internationalization. Journal of World Business, 53(5), 593–604. https://doi.org/10.1016/j.jwb.2018.06.002
  • Cuypers, I. P. R., Ertug, G., & Hennart, J. F. (2015). The effects of linguistic distance and lingua franca proficiency on the stake taken by acquirers in cross-border acquisitions. Journal of International Business Studies, 46, 429–422. https://doi.org/10.1057/jibs.2014.71
  • Dow, D., Cuypers, R. P., & Ertug, G. (2016). The effects of within-country linguistic and religious diversity on foreign acquisitions. Journal of International Business Studies, 47, 319–346. https://doi.org/10.1057/jibs.2016.7
  • Du, J., & Zhang, Y. (2018). Does One Belt One Road initiative promote Chinese overseas direct investment? China Economic Review, 47, 189–205. https://doi.org/10.1016/j.chieco.2017.05.010
  • Duan, F., Ji, Q., Liu, B., & Fan, Y. (2018). Energy investment risk assessment for nations along China’s Belt & Road Initiative. Journal of Cleaner Production, 170, 535–547. https://doi.org/10.1016/j.jclepro.2017.09.152
  • Estrin, S., Baghdasaryan, D., & Meyer, K. E. (2009). The impact of institutional and human resource distance on international entry strategies. Journal of Management Studies, 46(7), 1171–1196. https://doi.org/10.1111/j.1467-6486.2009.00838.x
  • Estrin, S., Meyer, K. E., Nielson, B. B., & Nielson, S. (2016). Home country institutions and the internationalization of state owned enterprises: A cross-country analysis. Journal of World Business, 51(2), 294–307. https://doi.org/10.1016/j.jwb.2015.11.002
  • Globerman, S., & Shapiro, D. (2003). Governance infrastructure and U.S. foreign direct investment. Journal of International Business Studies, 3, 19–39. https://doi.org/10.1057/palgrave.jibs.8400001
  • Gong, Y., Chow, I. H., & Ahlstrom, D. (2011). Cultural diversity in China: Dialect, job embeddedness, and turnover. Asia Pacific Journal of Management, 28(2), 221–238. https://doi.org/10.1007/s10490-010-9232-6
  • Guiso, L., Sapienza, P., & Zingales, L. (2006). Does culture affect economic outcomes? Journal of Economic Perspective, 20(2), 23–48. https://doi.org/10.1257/jep.20.2.23
  • Guiso, L., Sapienza, P., & Zingales, L. (2009). Cultural biases in economic exchange? Quarterly Journal of Economics, 124(3), 1095–1131. https://doi.org/10.1162/qjec.2009.124.3.1095
  • Hofstede Website. https://www.hofstede-insights.com/
  • Huang, Y. (2016). Understanding China’s Belt & Road Initiative: Motivation, framework and assessment. China Economic Review, 40, 314–321. https://doi.org/10.1016/j.chieco.2016.07.007
  • Huang, Y. (2019). Environmental risks and opportunities for countries along the Belt and Road: Location choice of China's investment. Journal of Cleaner Production, 211, 14–26. https://doi.org/10.1016/j.jclepro.2018.11.093
  • Jacob, J. T. (2017). China’s Belt and Road Initiative: Perspective from India. China & World Economy, 25(5), 78–100. https://doi.org/10.1111/cwe.12215
  • Kogut, B., & Singh, H. (1988). The effect of National culture on the choice of entry mode. Journal of International Business Studies, 19(3), 411–432. https://doi.org/10.1057/palgrave.jibs.8490394
  • La Porta, R., Lopez-de-Silanes, F., & Shleifer, A. (2008). The economic consequences of legal origins. Journal of Economic Literature, 46(2), 285–332. https://doi.org/10.1257/jel.46.2.285
  • Lien, D., & Lo, M. (2017). Economic impacts of cultural institutes. The Quarterly Review of Economics and Finance, 64, 12–21. https://doi.org/10.1016/j.qref.2017.02.002
  • Lien, D., Oh, C. H., & Selmier, W. T. (2012). Confucius institute effects on China's trade and FDI: Isn't it delightful when folks afar study Hanyu? International Review of Economics & Finance, 21, 147–155. https://doi.org/10.1016/j.iref.2011.05.010
  • Li, J., Liu, B., & Qian, G. (2019). The belt and road initiative, cultural friction and ethnicity: Their effects on the export performance of SMEs in China. Journal of World Business, 54(4), 360–359. https://doi.org/10.1016/j.jwb.2019.04.004
  • Liu, A., Lu, C., & Wang, Z. (2020). The roles of cultural and institutional distance on international trade: Evidence from China's trade with the Belt and Road countries. China Economic Review, 61, 101234. https://doi.org/10.1016/j.chieco.2018.10.001
  • Li, J., Xia, J., Shapiro, D., & Lin, Z. (2018). Institutional compatibility and the international of Chinese SOEs: The moderating role of home subnational institutions. Journal of World Business, 53, 641–622. https://doi.org/10.1016/j.jwb.2018.02.002
  • Ma, X., Ding, Z., & Yuan, L. (2016). Subnational institutions, political capital, and the internationalization of entrepreneurial firms in emerging economies. Journal of World Business, 51(5), 843–854. https://doi.org/10.1016/j.jwb.2016.07.004
  • Mingo, S., Morales, F., & Dau, L. A. (2018). The interplay of national distances and regional networks: Private equity investments in emerging markets. Journal of International Business Studies, 49, 371–386. https://doi.org/10.1057/s41267-017-0141-5
  • North, D. C. (1990). Institutions, institutional change, and economic performance. Cambridge University Press.
  • O’Toole, K. (2001). Kokusaika and Internationalism: Australian and Japanese sister city type relationships. Australian Journal of International Affairs, 55(3), 403–419. https://doi.org/10.1080/10357710120095234
  • Phillips, N., Tracey, P., & Karra, N. (2009). Rethinking institutional distance: Strengthening the tie between new institutional theory and international management. Strategic Organization, 73(3), 339–348. https://doi.org/10.1177/1476127009337439
  • Ramasamy, B., & Cremer, R. D. (1998). Cities, commerce and culture: The economic role of international sister-city relationships between New Zealand and Asia. Journal of Asia Pacific Economy, 3(3), 446–461. https://doi.org/10.1080/13547869808724662
  • Sethi, D., Guisinger, S. W., Phelan, S. E., & Berg, D. M. (2003). Trends in foreign direct investment flows: A theoretical and empirical analysis. Journal of International Business Studies, 34, 315–326. https://doi.org/10.1057/palgrave.jibs.8400034
  • Shapiro, D. M., & Globerman, S. (2012). The international activities and impacts of state-owned enterprises. In K. Sauvant, L. Sachs, & W. S. Jongbloed (Eds.), Sovereign investment: Concerns and policy reactions (pp. 98–144). Oxford University Press.
  • Silva, J. M. C. S., & Tenreyo, S. (2006). The log of gravity. Review of Economics and Statistics, 88(4), 641–658. https://doi.org/10.1162/rest.88.4.641
  • The Ministry of Foreign Affairs of the People’s Republic of China. https://www.fmprc.gov.cn/mfa_eng/
  • Timofeev, I., Lissovolik, Y., & Filippova, L. (2017). Russia’s vision of the Belt and Road Initiative: From the rivalry of the great powers to forging a new cooperation in Eurasia. China & World Economy, 25(5), 62–77. https://doi.org/10.1111/cwe.12214
  • Wang, J. (2013). The economic impact of special economic zones: Evidence from Chinese municipalities. Journal of Development Economics, 101, 133–147. https://doi.org/10.1016/j.jdeveco.2012.10.009
  • Wang, H., Fidrmuc, J., & Luo, Q. (2021a). A spatial analysis of inward FDI and urban-rural wage inequality in China. Economic Systems, 45(3), 100902. https://doi.org/10.1016/j.ecosys.2021.100902
  • Wang, H., Fidrmuc, J., & Tian, Y. (2020). Growing against the background of colonization? FDI and Chinese labour market in a historical perspective. International Review of Economics & Finance, 69, 1018–1031. https://doi.org/10.1016/j.iref.2018.12.010
  • Wang, H., Han, Y., Fidrmuc, J., & Wei, D. (2021b). Confucius Institute, Belt and Road Initiative, and internationalization. International Review of Economics & Finance, 71, 237–256. https://doi.org/10.1016/j.iref.2020.09.011
  • Wang, H., & Luo, Q. (2020). How colonial legacy shapes the impact of inward FDI on GDP? Evidence from China. Applied Economics Letters, 27(9), 740–743. https://doi.org/10.1080/13504851.2019.1644437
  • World Bank. (2000). World development report. 1999/2000: Entering the 21st century. Oxford University Press. https://data.worldbank.org/
  • Yang, J. (2018). Subnational institutions and location choice of emerging market firms. Journal of International Management, 24, 317–332. https://doi.org/10.1016/j.intman.2018.04.002
  • Yu, S., Qian, X., & Liu, T. (2019). Belt and road initiative and Chinese firms' outward foreign direct investment. Emerging Markets Review. https://doi.org/10.1016/j.ememar.2019.100629
  • Zhai, F. (2018). China’s belt and road initiative: A preliminary quantitative assessment. Journal of Asian Economics, 55, 84–92. https://doi.org/10.1016/j.asieco.2017.12.006
  • Zhou, K. Z., Gao, G. Y., & Zhao, H. (2017). State ownership and firm innovation in China: An integrated view of institutional and efficiency logics. Administrative Science Quarterly, 62(2), 375–404. https://doi.org/10.1177/0001839216674457