IDEAS home Printed from https://ideas.repec.org/a/onb/oenbfi/y2017iq3-17b1.html
   My bibliography  Save this article

The New Silk Road, part I: a stocktaking and economic assessment

Author

Abstract

China’s New Silk Road (NSR) initiative was officially launched in 2013. It aims at enhancing overall connectivity between China and Europe by both building new and modernizing existing – overland as well as maritime – infrastructures. The NSR runs through a number of Eurasian emerging markets with important growth potential. The Chinese authorities have entrusted the Silk Road Fund, the Asian Infrastructure Investment Bank and other institutions with financially supporting NSR activities. Most drivers of the initiative are of an economic or a geopolitical nature. Given the generous financial means at Beijing’s disposal and Chinese firms’ accumulated expertise in infrastructure projects, many undertakings are currently well under way and promise to (eventually) bring about considerable changes in connectivity, commerce and economic dynamism. While most Chinese NSR investments go to large countries (e.g. Pakistan, Malaysia, Indonesia, Russia, Kazakhstan and Kenya), the strategically situated smaller countries (e.g. Djibouti, Sri Lanka, Kyrgyzstan, Laos, Serbia and Montenegro) typically benefit the most (in relation to the size of their economies). Progress has been made in strengthening the maritime infrastructural trade links with the EU (e.g. through the modernization of deep-water ports) while the upgrading of the currently rather weak trans-Eurasian railroad and highway links (e.g. via Kazakhstan and Russia) is clearly improving overland transportation’s yet modest competitive position.

Suggested Citation

  • Stephan Barisitz & Alice Radzyner, 2017. "The New Silk Road, part I: a stocktaking and economic assessment," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue Q3/17, pages 8-30.
    • Handle: RePEc:onb:oenbfi:y:2017:i:q3/17:b:1
    as

    Download full text from publisher

    File URL: https://www.oenb.at/dam/jcr:48e8ae7a-e2c7-4a2b-af4a-a9cc22c0fbee/03_Barisitz_feei_3_17.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Stephan Barisitz, 2017. "Central Asia and the Silk Road," Studies in Economic History, Springer, number 978-3-319-51213-6, June.
    2. Egorova, Yana, 2017. "Инвестирование Денежных Средств В Условиях Экономического Кризиса В 2017 Году," MPRA Paper 77648, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Damoah, Kaku Attah & Giovannetti, Giorgia & Marvasi, Enrico, 2022. "Do country centrality and similarity to China matter in the allocation of belt and road projects?," Structural Change and Economic Dynamics, Elsevier, vol. 62(C), pages 660-674.
    2. Sadam Hussain & Muhammad Shahid Akram & Abdul Ghaffar & Yasmeen Qamar & Waqar Ahmad, 2019. "Impact of Foreign Investment, Labor Force and Interest Rate on Economic Growth: A Case of Pakistan (Under CPEC Project Contribution Countries)," Asian Development Policy Review, Asian Economic and Social Society, vol. 7(4), pages 369-377, December.
    3. Richard Grieveson & Julia Grübler & Mario Holzner, 2018. "Western Balkans EU Accession: Is the 2025 Target Date Realistic?," wiiw Policy Notes 22, The Vienna Institute for International Economic Studies, wiiw.
    4. Alexandra Bykova & Mahdi Ghodsi & Julia Grübler & Doris Hanzl-Weiss & Mario Holzner & Gabor Hunya & Robert Stehrer, 2018. "Economic Policy Implications of the Belt and Road Initiative for CESEE and Austria," wiiw Policy Notes 23, The Vienna Institute for International Economic Studies, wiiw.
    5. Julia Gruebler, 2021. "China connecting Europe?," Asia Europe Journal, Springer, vol. 19(1), pages 77-101, December.
    6. Mario Holzner & Monika Schwarzhappel, 2018. "Infrastructure Investment in the Western Balkans: A First Analysis," wiiw Research Reports 432, The Vienna Institute for International Economic Studies, wiiw.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Haiming Li & Nathaniel James & Junwei Chen & Shanjia Zhang & Linyao Du & Yishi Yang & Guoke Chen & Minmin Ma & Xin Jia, 2023. "Agricultural Economic Transformations and Their Impacting Factors around 4000 BP in the Hexi Corridor, Northwest China," Land, MDPI, vol. 12(2), pages 1-11, February.
    2. Galina S. TIMOKHINA, 2019. "Behaviour of high-income consumers: Results of research of the private banking services market in Russia," Upravlenets, Ural State University of Economics, vol. 10(4), pages 85-97, September.
    3. Jin-Yu Zhang & Wen-Bo Wu & Yong Li & Zhu-Sheng Lou, 2021. "Pricing Exotic Option Under Jump-Diffusion Models by the Quadrature Method," Computational Economics, Springer;Society for Computational Economics, vol. 58(3), pages 867-884, October.
    4. Louis Bhim & Reiichiro Kawai, 2018. "Smooth Upper Bounds For The Price Function Of American Style Options," International Journal of Theoretical and Applied Finance (IJTAF), World Scientific Publishing Co. Pte. Ltd., vol. 21(01), pages 1-38, February.
    5. Raj Yadav, 2014. "Twenty Five Years of Russian Banking System," International Studies, , vol. 51(1-4), pages 101-117, January.
    6. Jessen L. Hobson & Matthew T. Stern & Aaron F. Zimbelman, 2020. "The Benefit of Mean Auditors: The Influence of Social Interaction and the Dark Triad on Unjustified Auditor Trust," Contemporary Accounting Research, John Wiley & Sons, vol. 37(2), pages 1217-1247, June.
    7. Vladimir V. Gromov & Nikolaj S. Milogolov, 2019. "Simplified Taxation System and Unified Tax on Imputed Income: Objectives, Problems, Long-term Vision," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 9-21, April.
    8. Georgiev, Slavi G. & Vulkov, Lubin G., 2021. "Computation of the unknown volatility from integral option price observations in jump–diffusion models," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 188(C), pages 591-608.
    9. Radhakrishnan, Rokesh & Patra, Pradipta & Das, Manali & Ghosh, Amit, 2021. "Recent advancements in the ionic liquid mediated lignin valorization for the production of renewable materials and value-added chemicals," Renewable and Sustainable Energy Reviews, Elsevier, vol. 149(C).
    10. Dina Kabdullinovna Tanatova* & Irina Vladimirovna Dolgorukova & Vardres Grigorevich Pogosyan & Tatiana Mihailovna Bormotova & Evgeniy Aleksandrovich Lidzer, 2018. "Youth Entrepreneurship: Social Practices and Risks," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 348-353:3.
    11. Katja Lindskov Jacobsen, 2019. "Poly‐criminal Pirates and Ballooning Effects: Implications for International Counter‐piracy," Global Policy, London School of Economics and Political Science, vol. 10(1), pages 52-59, February.
    12. Jed O. Kaplan & Kristen M. Krumhardt & Marie-José Gaillard & Shinya Sugita & Anna-Kari Trondman & Ralph Fyfe & Laurent Marquer & Florence Mazier & Anne Birgitte Nielsen, 2017. "Constraining the Deforestation History of Europe: Evaluation of Historical Land Use Scenarios with Pollen-Based Land Cover Reconstructions," Land, MDPI, vol. 6(4), pages 1-20, December.
    13. I.V. Takmasheva & D.V. Sannikov, 2018. "Assessing the Potential of Small Business Development in the Northern Region of Russia Based on Correlation Analysis," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 577-587.
    14. Arkadii A. Simdiankin & Pavel S. Probin & Larisa N. Gerasimova & Zhanna Kevorkova & Vadim A. Dikikh & Aslan O. Nurmanov, 2020. "Method for evaluating the possibility of cluster forming," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(4), pages 3145-3157, June.
    15. Daria M. Arkhipova & Vadim V. Ermolaev & Vasili A. Miluykov & Farida G. Valeeva & Gulnara A. Gaynanova & Lucia Ya. Zakharova & Mikhail E. Minyaev & Valentine P. Ananikov, 2021. "Tri- tert -butyl( n -alkyl)phosphonium Ionic Liquids: Structure, Properties and Application as Hybrid Catalyst Nanomaterials," Sustainability, MDPI, vol. 13(17), pages 1-19, September.
    16. Mattias Vågberg & Gabriel Granåsen & Anders Svenningsson, 2017. "Brain Parenchymal Fraction in Healthy Adults—A Systematic Review of the Literature," PLOS ONE, Public Library of Science, vol. 12(1), pages 1-19, January.
    17. Stephan Barisitz, 2020. "China’s New Silk Road: a stocktaking update and economic review (2017–2019)," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue Q1/20, pages 20-50.
    18. repec:wsr:pbrief:y:2017:i:033 is not listed on IDEAS
    19. S. Egorova E. & L. Yudanova A. & V. Budasova A. & С. Егорова Е. & Л. Юданова А. & В. Будасова А., 2019. "Проблемы и особенности бюджетирования деятельности в социально-ориентированных некоммерческих организациях // Problems and Peculiarities of Budgeting the Activities in Socially Oriented Non-profit Org," Учет. Анализ. Аудит // Accounting. Analysis. Auditing, ФГОБУВО "Финансовый университет при Правительстве Российской Федерации" // Financial University under The Government of Russian Federation, vol. 6(4), pages 32-41.
    20. Kirkby, J. Lars & Nguyen, Dang H. & Nguyen, Duy, 2020. "A general continuous time Markov chain approximation for multi-asset option pricing with systems of correlated diffusions," Applied Mathematics and Computation, Elsevier, vol. 386(C).
    21. Molina-Muñoz, Jesús & Mora-Valencia, Andrés & Perote, Javier, 2020. "Market-crash forecasting based on the dynamics of the alpha-stable distribution," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 557(C).

    More about this item

    Keywords

    New Silk Road; One Belt; One Road; connectivity; trade infrastructure; economic corridors; regional policy; China; Eurasia;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • N75 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Asia including Middle East
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:onb:oenbfi:y:2017:i:q3/17:b:1. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Elisabeth Beckmann (email available below). General contact details of provider: https://edirc.repec.org/data/oenbbat.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.