The Impact of China’s Outward Foreign Direct Investment on Trade Intensity with Belt and Road Countries

References

• Africano, A., and M. Magalhaes. 2005. FDI and trade in Portugal: A gravity analysis. FEP Working Papers No. 174.
   Google Scholar
• Aizenman, J., and I. Noy. 2006. FDI and trade: Two-way linkages? Quarterly Review of Economics and Finance 4 (3):317–37. doi:10.1016/j.qref.2006.02.004.
   Google Scholar
• Albulescu, C., and D. Goyeau. 2016. The interaction between trade and FDI: The CEE countries experience. HAL Working Papers No. 01361954.
   Google Scholar
• Arellano, M., and S. Bond. 1991. Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Review of Economic Studies 58 (2):277–97. doi:10.2307/2297968.
   Web of Science ®Google Scholar
• Beck, T., and R. Levine. 2002. Stock markets, banks, and growth: Panel evidence. NBER Working Paper No. 9082.
   Google Scholar
• Braga, C., and G. Bannister. 1994. East Asian investment and trade: Prospects for growing regionalisation in the 1990s. Transnational Corporations 3 (1):97–136. Accessed June 20, 2018. https://unctad.org/en/PublicationChapters/iteiitv3n1a5_en.pdf.
   Google Scholar
• Brainard, S. 1992. A simple theory of multinational corporations and trade with a trade-off between proximity and concentration. NBER Working Paper No. 4269.
   Google Scholar
• Brown, A. 1948. Applied Economics: Aspects of the World Economy in War and Peace. New York: Rinehart.
   Google Scholar
• Buckley, P., L. Clegg, A. Cross, X. Liu, H. Voss, and P. Zheng. 2007. The determinants of Chinese outward foreign direct investment. Journal of International Business Studies 38 (4):499–518. doi:10.1057/palgrave.jibs.8400277.
   Web of Science ®Google Scholar
• Cai, R., and Q. Liu. 2004. Are China’s outward foreign direct investment and trade complementary? An empirical study based on Kojima’s “marginal industry theory”. World Economy Studies 8:65–71. in Chinese.
   Google Scholar
• Chen, C. 1997. The location determinants of foreign direct investment in developing countries. Chinese Economies Research Centre Working Paper No. 12.
   Google Scholar
• Chen, C. 2011. Foreign direct investment in china: location determinants, investor differences and economic impacts. Cheltenham, UK: Edward Elgar.
   Google Scholar
• Chen, C. 2015. Determinants and motives of outward foreign direct investment from China’s provincial firms. Transnational Corporations 23 (1):1–28. doi:10.18356/6ba5ab37-en.
   Google Scholar
• Chen, C. 2017. Foreign direct investment and the Chinese economy: A critical assessment. Cheltenham, UK: Edward Elgar.
   Google Scholar
• Chen, C. 2018. Impact of China’s outward foreign direct investment on its regional economic growth. China & World Economy 26 (3):1–21. doi:10.1111/cwe.12240.
   Web of Science ®Google Scholar
• Cheung, Y., J. de Haan, X. Qian, and S. Yu. 2012. China’s outward direct investment in Africa. Review of International Economics 20 (2):201–20. doi:10.2139/ssrn.1824167.
   Web of Science ®Google Scholar
• Cheung, Y., and X. Qian. 2009. The empirics of China’s outward direct investment. Pacific Economic Review 14 (3):312–41. doi:10.1111/j.1468-0106.2009.00451.x.
   Web of Science ®Google Scholar
• Chiappini, R. 2011. FDI and trade: A Granger causality analysis in a heterogeneous panel. Economics Bulletin 31 (4):2975–85. hal ID: halshs-00853441.
   Google Scholar
• Cho, C. 2013. The causal relationship between trade and FDI: Implication for India and East Asian countries. KIEP Working Paper No. 13-06.
   Google Scholar
• Dunning, J. 1977. Trade, location of economic activity and the multinational enterprise: A search for an eclectic approach. In The international allocation of economic activity, ed. B. Ohlin, P. Hesselborn, and P. Wijkman, 395–418. London: Macmillan.
   Google Scholar
• Dunning, J. 1988. The eclectic paradigm of international production: A restatement and some possible extensions. Journal of International Business Studies 19 (1):1–32. doi:10.1057/palgrave.jibs.8490372.
   Web of Science ®Google Scholar
• Dunning, J. 1993. Multinational enterprises and the global economy. Wokingham, UK: Addison-Wesley.
   Google Scholar
• Dunning, J. 1995. What’s wrong and right with trade theory. International Trade Journal 9 (2):163–202. doi:10.1080/08853909508523825.
   Google Scholar
• Ethier, W., and L. Svensson. 1986. The theorems of international trade with factor mobility. Journal of International Economics 20 (1–2):21–42. doi:10.1016/0022-1996(86)90059-0.
   Web of Science ®Google Scholar
• Fontagné, L., and M. Pajot. 2001. Foreign trade and FDI stocks in British, US and French industries: Complements or substitutes?. In Inward investment technological change and growth, ed. N. Pain, 421–41. London: Palgrave Macmillan.
   Google Scholar
• Goh, S., K. Wong, and S. Tham. 2013. Trade linkages of inward and outward FDI: Evidence from Malaysia. Economic Modelling 35 (5):224–30. doi:10.1016/j.econmod.2013.06.035.
   Web of Science ®Google Scholar
• Goldberg, L., and M. Klein. 1997. Foreign direct investment, trade and real exchange rate linkages in developing countries. NBER Working Paper No. 6344.
   Google Scholar
• Hallak, J. C. 2010. A product-quality view of the Linder hypothesis. Review of Economics and Statistics 92 (3):453–66. doi:10.1162/REST_a_00001.
   Web of Science ®Google Scholar
• Han, Y., X. Lou, and J. Zhou. 2015. Competition or complementary between China and West Asia in trade cooperation under the framework of the Belt and Road strategy. World Economy Studies 3:89–98. in Chinese.
   Google Scholar
• Helpman, E. 1984. A simple theory of international trade with multinational corporations. Journal of Political Economy 92 (3):451–71. doi:10.1086/261236.
   Web of Science ®Google Scholar
• Helpman, E., and P. Krugman. 1985. Market structure and foreign trade. Cambridge: MIT Press.
   Google Scholar
• Horstmann, I., and J. Markusen. 1992. Endogenous market structures in international trade. Journal of International Economics 32 (1–2):109–29. .
   Web of Science ®Google Scholar
• Hu, B., and J. Qiao. 2013. The effect of China’s outward direct investment on trade: A dynamic panel system GMM approach. Economic Management 35 (4):11–19. in Chinese.
   Google Scholar
• Iwamoto, M., and K. Nabeshima. 2012. Can FDI promote export diversification and sophistication of host countries? dynamic panel system GMM analysis. IDE Discussion Paper No. 347.
   Google Scholar
• Jiang, G., and D. Jiang. 2014. The effect of China’s outward direct investment on export. Economic Research 49 (5):160–73. in Chinese.
   Google Scholar
• Kojima, K. 1964. The pattern of international trade among advanced countries. Hitotsubashi Journal of Economics 5 (1):16–36. doi:10.15057/8091.
   Google Scholar
• Kojima, K. 1973. A macroeconomic approach to foreign direct investment. Hitotsubashi Journal of Economics 14 (1):1–21. doi:10.086/8008.
   Web of Science ®Google Scholar
• Kojima, K. 1985. Japanese and American direct investment in Asia: A comparative analysis. Hitotsubashi Journal of Economics 26 (1):1–35. doi:10.15057/7895.
   Web of Science ®Google Scholar
• Kolstad, I., and A. Wiig. 2012. What determines Chinese outward FDI? Journal of World Business 47 (1):26–34. doi:10.1016/j.jwb.2010.10.017.
   Web of Science ®Google Scholar
• Krugman, P., and M. Obstfeld. 1991. International economics: Theory and policy. New York: HarperCollins.
   Google Scholar
• Li, Y. 2003. The impact of FDI on trade: Evidence from China’s bilateral trade. Journal of Academy of Business and Economics 1 (1):176–84. in Chinese.
   Google Scholar
• Liang, Z. 2006. Financial development and income distribution: A system GMM panel analysis with application to urban China. Journal of Economic Development 31 (2):1–21. doi:10.1.1.486.6442.
   Google Scholar
• Lin, C. 2016. Does Chinese OFDI really promote exports? China Finance and Economic Review 4 (13):1–16. doi:10.1186/s40589-016-0037-8.
   Google Scholar
• Linder, S. 1961. An essay on trade and transformation. New York: Wiley.
   Google Scholar
• Liu, Q., L. Cheng, Z. Shao, and Q. Chen. 2017. Financial constraint, export mode and trade upgrading. Economic Research 52 (5):75–88. in Chinese.
   Google Scholar
• Liu, X., T. Buck, and C. Shu. 2005. Chinese economic development, the next stage: Outward FDI? International Business Review 14 (1):97–115. doi:10.1016/j.ibusrev.2004.12.003.
   Web of Science ®Google Scholar
• Markusen, J. 1984. Multinational, multi-plant economies, and the gains from trade. Journal of International Economics 16 (3):205–26. doi:10.1016/S0022-1996(84)80001-X.
   Web of Science ®Google Scholar
• Markusen, J. 1995. The boundaries of multinational enterprises and the theory of international trade. Journal of Economic Perspectives 9 (2):169–89. doi:10.2307/2138172.
   Web of Science ®Google Scholar
• Markusen, J., and A. Venables. 1995. Multinational firms and the new trade theory. NBER Working Paper No. 5036.
   Google Scholar
• Metulini, R., M. Riccaboni, P. Sgrignoli, and Z. Zhu. 2017. The indirect effects of FDI on trade: A network perspective. IMT LUCCA EIC Working Papers No. 4.
   Google Scholar
• Mundell, R. 1957. International trade and factor mobility. American Economic Review 47 (3):321–35. doi:10.2139/ssrn.171077.
   Web of Science ®Google Scholar
• National Bureau of Statistics of China (NBS). Various years. China Statistical Yearbook. Beijing: China Statistics Press.
   Google Scholar
• National Bureau of Statistics of China (NBS). Various issues. Statistical Bulletin of China’s Outward Foreign Direct Investment. Beijing: China Statistics Press.
   Google Scholar
• Overseas Chinese Affairs Council. 2011. Statistical yearbook of the Overseas Chinese. Taipei: Overseas Chinese Affairs Council Press. http://www.ocac.gov.tw.
   Google Scholar
• Pontes, J. 2006. A non-monotonic relationship between FDI and trade. Dresden Discussion Paper in Economics No. 05/06.
   Google Scholar
• Sousa, J., and J. Lochard. 2004. The currency union effect on trade and the FDI channel. Cahiers de la Maison des Sciences Economiques j04111, Université Panthéon-Sorbonne (Paris 1).
   Google Scholar
• Su, Z., and L. Liu. 2007. Intra-industrial trade and horizontal FDI: A unified model. Paper presented at the 14th International Conference on Management Science and Engineering, Harbin, China, August 20–22.
   Google Scholar
• Tadesse, B., and M. Ryan. 2002. The FDI-trade relationship: Are developing countries different? Paper presented at the Northeastern Universities Development Consortium Conference, Williams College, Williamstown, MA. http://web.williams.edu/Economics/neudc/papers/TadesseRyanNEUDC.pdf. Accessed April 19, 2018.
   Google Scholar
• Tadesse, B., and M. Ryan. 2005. Export platforms and the industry-specific FDI-trade relationship. Journal of Economic Integration 20 (4):644–71. doi:10.11130/jei.2005.20.4.644.
   Google Scholar
• United Nations Conference on Trade and Development (UNCTAD). 1996. World investment report 1996: Investment, trade and international policy arrangements. United Nations: United Nations Publication.
   Google Scholar
• United Nations Conference on Trade and Development (UNCTAD). Various issues. World investment report. United Nations: United Nations Publication.
   Google Scholar
• Vernon, R. 1966. International investment and international trade in the product cycle. Quarterly Journal of Economics 80 (2):190–207. doi:10.1002/tie.5060080409.
   Web of Science ®Google Scholar
• Wang, F., J. Liu, and C. Su. 2017. Outward foreign direct investment and export performance in China. Canadian Public Policy 43 (2):73–87. doi:10.3138/cpp.2016-073.
   Web of Science ®Google Scholar
• Wang, Y., and G. Wan. 2008. China’s trade imbalances: The role of FDI. Research paper UNU-WIDER No. 2008. 103.
   Google Scholar
• World Bank. Various years. World development indicators. Washington DC: World Bank.
   Google Scholar
• World Trade Organization (WTO). 2017. World trade statistical review 2017. https://www.wto.org/english/res_e/statis_e/wts2017_e/wts2017_e.pdf.
   Google Scholar
• Xiang, B. 2009. The impact of China’s outward foreign direct investment on trade: Empirical evidence from panel data analysis. Finance & Trade Economics 4:77–82. in Chinese.
   Google Scholar
• Yan, J., Q. Liu, and W. Reyihan. 2017. The trade effect of Chinese outward foreign direct investment in Central Asia Countries. Shanghai Journal of Economics 37 (3):58–64. in Chinese.
   Google Scholar
• Yang, J., and C. Chen. 2008. The economic impact of the China-ASEAN free trade area: A computational analysis with special emphases on agriculture. In Agriculture and food security in China: What effect WTO accession and regional trade arrangements? ed. C. Chen and R. Duncan, 372–407. Canberra: Asia Pacific Press and ANU E Press, Australian National University.
   Google Scholar
• Zarotiadis, G., N. Mylonidis, and K. Griva. 2008. FDI and international trade relations: A theoretical approach. International Trade and Finance Association Working Paper No. 31.
   Google Scholar
• Zhang, C. 2012. An empirical study on the impact of China’s outward foreign direct investment on trade. Journal of Quantitative & Technical Economics 29 (6):74–85. in Chinese.
   Google Scholar
• Zhang, H. 2014. The impact of foreign direct investment on technology content of home countries’ export: An empirical study based on country level dynamic panel data. Journal of International Trade 2:115–23. in Chinese.
   Google Scholar
• Zheng, L., and Y. Liu. 2014. The impact of China’s outward foreign direct investment on trade: A comparative study of China’s investment in NAFTA, EU and ASEAN. Mathematics in Practice and Theory 44 (16):22–30. in Chinese.
   Google Scholar