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The Belt and Road Initiative and High-tech Enterprise Total Factor Productivity

Received: 30 November 2019     Accepted: 19 February 2020     Published: 3 March 2020
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Abstract

The Belt and Road initiative is a great achievement and to develop the initiative better, we need to seek impetus from innovation and build "The Road" into a road of innovation. This paper regards the implementation of The Belt and Road initiative as a quasi-natural experiment, using the difference-in-difference model to explore the influence and path of the Belt and Road Initiative on the total factor productivity of high-tech enterprises. Based on the panel data of high-tech enterprises of listed companies from 2009 to 2018, this paper found that the inhibitory effect of The Belt and Road Initiative on total factor productivity of high-tech enterprises changed in an "U" shape and the result of this inhibitory effectwas still valid after the use of placebo test and robustness test. Further research shows that resource curse, environmental uncertainty, lack of tax incentives and lack of motivation are the main reasons to restrain high-tech enterprises from improving their level of technological innovation. However , the increase of innovation output of high-tech enterprises alleviates the restraining effect with the development of The Belt and Road initiative. The findings of this paper are of great significance for China to promote the development of The Belt and Road initiative from the perspective of scientific and technological innovation.

Published in Asia-Pacific Journal of Economics (Volume 1, Issue 3)
Page(s) 18-26
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2020. Published by Science Publishing Group

Keywords

The Belt and Road Initiative; DID Model, Total Factor Productivity, Scientific and Technological Innovation

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Cite This Article
  • APA Style

    Yue Zhang, Zhilin Huang, Haoyang Shi, Zixing Zeng, Yingjie Chen, et al. (2020). The Belt and Road Initiative and High-tech Enterprise Total Factor Productivity. Asia-Pacific Journal of Economics, 1(3), 18-26.

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    ACS Style

    Yue Zhang; Zhilin Huang; Haoyang Shi; Zixing Zeng; Yingjie Chen, et al. The Belt and Road Initiative and High-tech Enterprise Total Factor Productivity. Asia-Pac. J. Econ. 2020, 1(3), 18-26.

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    AMA Style

    Yue Zhang, Zhilin Huang, Haoyang Shi, Zixing Zeng, Yingjie Chen, et al. The Belt and Road Initiative and High-tech Enterprise Total Factor Productivity. Asia-Pac J Econ. 2020;1(3):18-26.

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  • @article{10045231,
      author = {Yue Zhang and Zhilin Huang and Haoyang Shi and Zixing Zeng and Yingjie Chen and Xiran Li and Fei Ji},
      title = {The Belt and Road Initiative and High-tech Enterprise Total Factor Productivity},
      journal = {Asia-Pacific Journal of Economics},
      volume = {1},
      number = {3},
      pages = {18-26},
      url = {https://www.sciencepublishinggroup.com/article/10045231},
      abstract = {The Belt and Road initiative is a great achievement and to develop the initiative better, we need to seek impetus from innovation and build "The Road" into a road of innovation. This paper regards the implementation of The Belt and Road initiative as a quasi-natural experiment, using the difference-in-difference model to explore the influence and path of the Belt and Road Initiative on the total factor productivity of high-tech enterprises. Based on the panel data of high-tech enterprises of listed companies from 2009 to 2018, this paper found that the inhibitory effect of The Belt and Road Initiative on total factor productivity of high-tech enterprises changed in an "U" shape and the result of this inhibitory effectwas still valid after the use of placebo test and robustness test. Further research shows that resource curse, environmental uncertainty, lack of tax incentives and lack of motivation are the main reasons to restrain high-tech enterprises from improving their level of technological innovation. However , the increase of innovation output of high-tech enterprises alleviates the restraining effect with the development of The Belt and Road initiative. The findings of this paper are of great significance for China to promote the development of The Belt and Road initiative from the perspective of scientific and technological innovation.},
     year = {2020}
    }
    

    Copy | Download

  • TY  - JOUR
    T1  - The Belt and Road Initiative and High-tech Enterprise Total Factor Productivity
    AU  - Yue Zhang
    AU  - Zhilin Huang
    AU  - Haoyang Shi
    AU  - Zixing Zeng
    AU  - Yingjie Chen
    AU  - Xiran Li
    AU  - Fei Ji
    Y1  - 2020/03/03
    PY  - 2020
    T2  - Asia-Pacific Journal of Economics
    JF  - Asia-Pacific Journal of Economics
    JO  - Asia-Pacific Journal of Economics
    SP  - 18
    EP  - 26
    PB  - Science Publishing Group
    UR  - http://www.sciencepg.com/article/10045231
    AB  - The Belt and Road initiative is a great achievement and to develop the initiative better, we need to seek impetus from innovation and build "The Road" into a road of innovation. This paper regards the implementation of The Belt and Road initiative as a quasi-natural experiment, using the difference-in-difference model to explore the influence and path of the Belt and Road Initiative on the total factor productivity of high-tech enterprises. Based on the panel data of high-tech enterprises of listed companies from 2009 to 2018, this paper found that the inhibitory effect of The Belt and Road Initiative on total factor productivity of high-tech enterprises changed in an "U" shape and the result of this inhibitory effectwas still valid after the use of placebo test and robustness test. Further research shows that resource curse, environmental uncertainty, lack of tax incentives and lack of motivation are the main reasons to restrain high-tech enterprises from improving their level of technological innovation. However , the increase of innovation output of high-tech enterprises alleviates the restraining effect with the development of The Belt and Road initiative. The findings of this paper are of great significance for China to promote the development of The Belt and Road initiative from the perspective of scientific and technological innovation.
    VL  - 1
    IS  - 3
    ER  - 

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Author Information
  • School of Economics and Trade, Guangdong University of Foreign Studies, Guangzhou, China

  • School of Economics and Trade, Guangdong University of Foreign Studies, Guangzhou, China

  • School of Economics and Trade, Guangdong University of Foreign Studies, Guangzhou, China

  • School of Economics and Trade, Guangdong University of Foreign Studies, Guangzhou, China

  • School of Economics and Trade, Guangdong University of Foreign Studies, Guangzhou, China

  • School of Economics and Trade, Guangdong University of Foreign Studies, Guangzhou, China

  • International Research Center for the 21st Century Maritime Silk Road and Regional Innovation, Guangdong University of Foreign Studies, Guangzhou, China

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