Investment network structure and its impact mechanism of One Belt and Road countries – Based on the Exponential Random Graph Model analysis

Topics: Applied Geography, Economic Geography, China
Keywords: Investment network; Motif feature; Impact mechanism; Exponential Random Graph Model (ERGM); The Belt and Road Initiative
Session Type: Poster
Day: 4/11/2018
Start / End Time: 1:20 PM / 3:00 PM
Room: Napoleon Foyer/Common St. Corridor, Sheraton, 3rd Floor
Presentation File: No File Uploaded

This study explored the topological structure of the network and the relationship modes at the whole and local levels, applied Exponential Random Graph Model (ERGM) to explained the impact mechanism for forming investment network, including the endow structure effects, the actor-relation effects and the covariate network effects. The results are: 1) The whole structure of the investment network shows the pattern of “Cluster in East Asia and Southeast Asia, separate in Central and Eastern Europe, dissociate in Central Asia” with the prominent phenomenon of “Richman’s club”. 2) Motif analysis explained the importance of the reciprocity in the investment relationship of B&R countries. However, the group feature isn’t obvious. 3) The forming of the investment network is significantly affected by the interpenetrative and interdependent investment relationship among countries. The countries’ economy is the key influencing factors as well, and the investment behaviors among countries with different economic development are distinguished – countries with high level of economic development are inclined to invest in each other, and foreign investment is a major part of countries at both high and median economic levels. 4) Resource-seeking investment is the dominant power that promote the formation of the investment network, while market-seeking investment and labor-seeking investment are less influential. Spatial proximity, common official language (culture) and the existing investment agreement are the crucial exogenous forces that push the formation and growth of the investment network.

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