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Quantifying Financing Needs in the Belt and Road Countries

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  • Hongyi Chen
  • Tianjiao Jiang
  • Chen Lin
  • Hui Zhao

Abstract

This paper provides a thorough analysis to quantify the financing needs in the Belt and Road countries during 2009 and 2014. By examining financial constraints using financial data of firms in the Belt and Road countries, this study constructs a Financing Needs Index for Belt and Road countries and highlights the characteristics of financing needs across 36 countries and 6 years. By further incorporating information from World Bank Enterprise Surveys, this paper builds an Augmented Financing Needs Index for 56 Belt and Road countries. The findings of this paper provide important policy implications by showing that countries can improve their financial liberalization and institutional environment to address the financing needs of their indigenous firms and thus achieve economic growth.

Suggested Citation

  • Hongyi Chen & Tianjiao Jiang & Chen Lin & Hui Zhao, 2019. "Quantifying Financing Needs in the Belt and Road Countries," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 55(14), pages 3178-3210, November.
    • Handle: RePEc:mes:emfitr:v:55:y:2019:i:14:p:3178-3210
    DOI: 10.1080/1540496X.2019.1605593
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    Cited by:

    1. Zhiwen Gong & Fung Chan & Yan Wu, 2021. "Borrowing Hong Kong’s International Standards: A Steppingstone for the Chinese “Belt and Road” Going Out?," Sustainability, MDPI, vol. 13(6), pages 1-19, March.
    2. Sha, Yezhou & Song, Weijia, 2021. "Can Bitcoin hedge Belt and Road equity markets?," Finance Research Letters, Elsevier, vol. 42(C).

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