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Belt and Road Economics : Opportunities and Risks of Transport Corridors : Main Report (English)

China proposed the Belt and Road Initiative in 2013 to improve connectivity and cooperation on a transcontinental scale. This study, by a team of World Bank Group economists led by Michele Ruta, analyzes the economics of the initiative. It assesses the connectivity gaps between economies along the initiative's corridors, examines the costs and economic effects of the infrastructure improvements proposed under the initiative, and identifies complementary policy reforms and institutions that will support welfare maximization and mitigation of risks for participating economies.


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    World Bank

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    Working Paper

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    The World Region,

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    Main Report

  • Keywords

    road corridor; Trade and Foreign Direct Investment; Strategic Environmental and Social Assessment; direction of trade statistic; fresh fruit and vegetable; information and communication technology; transport and logistics services; Fiscal and Debt Sustainability; trade and investment policy; Public and Publicly Guaranteed; global value chain; foreign value added; policy and institution; trade and fdi; domestic value added; international investment agreement; average income gain; social and environmental; global financial crisis; domestic policy reform; growth and development; Promoting Private Sector; transport infrastructure investment; access to mobile; domestic investment law; high debt levels; enforcement of standards; risk of debt; international good practice; transparent public procurement; income developing country; special economic zone; Sexually Transmitted Disease; carbon dioxide emission; volume of investment; trade in goods; kind of investment; negative welfare effect; privileges and immunity; barriers to trade; growth in trade; infrastructure and services; quality of transport; global trading system; public investment management; export of goods; cost of debt; real income; participating country; rural transportation infrastructure; reduce trade; gross exports; road transport; trade agreement; public debt; global export; export value; complementary policies; border delays; debt finance; labor mobility; merchandise export; corridor development; environmental risk; reduce border; trade datum; governance risk; trade integration; reform actions; fiscal risk; labor displacement; legal protection; international cooperation; trade effect; trade costs; transport investment; living condition; corruption risks; Learning and Innovation Credit; border management; extreme poverty; moderate poverty; investment protection; multilateral cooperation; recipient countries; export growth; transport network; regulatory environment; global merchandise; trade restriction; complementary measure; adjustment policy; goods export; annex annex; social framework; increased trade; lowering trade; empirical research; economic model; trade opportunity; trading opportunities; increasing trade; comparative advantage; big winner; expanded trade; cross-border cooperation; spillover benefit; data reporting; Open Government; land bridge; world market; Trade Policy; investor protection; legal standard; positive spillover; procurement process; export good; cross-border trade; Trade Policies; merchandise trade; community involvement; fiscal cost; core principle; collaborative effort; modern economy; potential trade; construction investment; trade relation; country ranking; data limitation; commodity exporter; trade links; deep integration; trade route; global market; increased integration; International Trade; inefficient policy; poor infrastructure; global trade; facilitating trade; agricultural sector; social security; legal rule; potential investor; investment climate; project selection; infrastructure cost; national income; increasing return; spatial analysis; collaborative approach; complementary reform; transportation corridor; social tension; high emissions; trade risk; illegal timber; community monitoring; domestic institution; economic geography; debt restructuring; lending institution; government body; fiscal framework; favorable financing; Boosting Growth; medium-term outlook; rail route; biodiversity risk; digital connectivity; geographical location; aggregate income; spatial inequality; commercial purpose; research program; domestic preference; copyright owner; spatial coverage; export requirement; sole responsibility; ship time; original work; debt composition; gross debt; geographical approach; energy infrastructure; transport cost; adaptation purposes; carbon emission



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World Bank

Belt and Road Economics : Opportunities and Risks of Transport Corridors : Main Report (English). Washington, D.C. : World Bank Group.