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Economic Policy Implications of the Belt and Road Initiative for CESEE and Austria

Author

Listed:
  • Alexandra Bykova

    (The Vienna Institute for International Economic Studies, wiiw)

  • Mahdi Ghodsi

    (The Vienna Institute for International Economic Studies, wiiw)

  • Julia Grübler
  • Doris Hanzl-Weiss

    (The Vienna Institute for International Economic Studies, wiiw)

  • Mario Holzner

    (The Vienna Institute for International Economic Studies, wiiw)

  • Gabor Hunya

    (The Vienna Institute for International Economic Studies, wiiw)

  • Robert Stehrer

    (The Vienna Institute for International Economic Studies, wiiw)

Abstract

The Belt and Road Initiative (BRI), a vision to revive the ancient ‘Silk Road’ by means of massive infrastructure investments throughout Eurasia and Africa, was first presented by China’s President Xi Jinping in 2013. China has identified the region of Central East and Southeast Europe (CESEE) as the gateway to Western European markets. This was manifested by the investment in the Port of Piraeus (Greece) and the diplomatic initiative ‘16+1’, comprising eleven EU Member States and five Western Balkan countries, which is interesting for Austria due to its strong economic relations with this region. The Policy Brief analyses the most recent developments in trade and investment activities of China, Austria and the EU in CESEE, which are compared to the state of infrastructure in the region in the areas of transport, energy, information and communication technology as well as finance. Overall, CESEE has a high need for infrastructure investments, particularly in the transport sector. Chinese loans and investments in the region are becoming more important, especially for the Western Balkan countries, which have limited access to EU grants. The paper concludes with seven policy areas for future cooperation between Austria and China. The Policy Note is based on a study conducted for the Embassy of the People’s Republic of China in Austria. It is available upon request. Please contact Ms ZHANG Yiran (yiran_zhang@mfa.gov.cn) or Mr CHEN Lin (Chen_lin@mfa.gov.cn).

Suggested Citation

  • 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.
    • Handle: RePEc:wii:pnotes:pn:23
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    References listed on IDEAS

    as
    1. 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.
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    Cited by:

    1. Oliver Reiter & Monika Schwarzhappel & Robert Stehrer, 2020. "Productivity and Competitiveness of the Western Balkan countries: An Analysis Based on the wiiw Western Balkan Productivity Database," wiiw Policy Notes 37, The Vienna Institute for International Economic Studies, wiiw.
    2. 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.
    3. repec:wsr:fiwnot:y:2018:i:026 is not listed on IDEAS
    4. Julia Gruebler, 2021. "China connecting Europe?," Asia Europe Journal, Springer, vol. 19(1), pages 77-101, December.
    5. 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.

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    More about this item

    Keywords

    BRI; Belt and Road; New Silk Road; infrastructure; investment; FDI; transport; ICT; international trade; Gravity estimation; China; Austria; CESEE; Western Balkans;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • L9 - Industrial Organization - - Industry Studies: Transportation and Utilities
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure

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