Exploring the potential determinants of Chinese OFDI towards OBOR nations: an application of gravity model

WA Khan, ZU Rahman, J Ye - Asia-Pacific Journal of Accounting & …, 2023 - Taylor & Francis
WA Khan, ZU Rahman, J Ye
Asia-Pacific Journal of Accounting & Economics, 2023Taylor & Francis
This paper attempts to scrutinize the impact of natural resources, cultural, geographical, and
institutional factors on Chinese OFDI toward OBOR signatories by using the Gravity model.
The empirical estimates validated a significant positive relationship between China's and
OBOR Partners' GDP, and the negative influence of geographical distance on Chinese
OFDI. Institutional factors (government effectiveness, corruption control, rule of law, voice
and accountability, regularity quality) have significant negative, while cultural factors (shared …
Abstract
This paper attempts to scrutinize the impact of natural resources, cultural, geographical, and institutional factors on Chinese OFDI toward OBOR signatories by using the Gravity model. The empirical estimates validated a significant positive relationship between China’s and OBOR Partners’ GDP, and the negative influence of geographical distance on Chinese OFDI. Institutional factors (government effectiveness, corruption control, rule of law, voice and accountability, regularity quality) have significant negative, while cultural factors (shared border, common language) have significant positive effect on Chinese OFDI. Also, current findings disclose that the host economy’s natural resources act as key driver for Chinese OFDI in OBOR.
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