Research On Infrastructure In Asian Countries Along The “Belt And Road” Initiative

The Belt and Road initiative put forward by the president Xi Jinping in 2013 has implemented quickly from the idea,and then promoted to the national strategy,and then written into the Party Constitution,in which the whole process is progressing rapidly and is fruitful,mainly because of the Belt and Road initiatives in line with domestic and along the national economic development needs,further to get a positive response along the line countries.The infrastructure unicom to promote communication of policies,unimpeded trade,financing and interlinking of people to coordinated development,is the priority areas and the basic link of the Belt and Road initiative.Asian countries rise rapidly in recent years,with the finance,trade and investment integration level increasing and international influence rising year by year,becoming the first choiced and core area during the whole "The Belt and Road"infrastructure construction.But as Asian countries differ significantly at both the economic level and the political level,there are many problems in the infrastructure,such as optimal allocation,policy planning and financing arrangements.Based on what is mentioned above,the research subject of this paper is:How the infrastructure construction of the Asian countries along the Belt and Road is implemented by optimize the configuration,policy planning and financing arrangements.Because infrastructure construction is the category of regional public goods supply,based on the theory of regional public goods supply,this paper lays a solid foundation for the following discussion from three aspects:optimal allocation,policy planning and financing arrangements.According to the theory of optimal supply and the hierarchy of needs of regional public goods,the optimal allocation of regional infrastructure needs to emphasize the demand side,which is mainly manifested in two aspects:trade facilitation and investment environment optimization.This paper uses the classical gravity expansion model to analyze the bilateral trade,whose results are as follows:a)when a country's traffic infrastructure develops to a certain level,the role of the communication infrastructure will become more and more significant;b)the import of countries with different income levels has different requirements on the level of infrastructure construction,etc.Secondly,Secondly,this paper adopts entropy weighting method based on the optimization of the investment environment to analyze the optimal allocation of infrastructure construction:a)the Belt and Road Asia infrastructure construction need conduct differentiated configuration;b)the central and Western Asian countries are mainly the construction of transportation infrastructure;c)the South and Southeast Asian countries are mainly the construction of industrial and trade cooperation zones,etc.According to the theory of regional public product supply,reasonable policy planning helps to reduce the cost of infrastructure operation and improve the efficiency of infrastructure supply.The European Union has accumulated very rich experience in policy arrangements,top-level design,institutional mechanisms,priorities and financing arrangements in the construction of the trans-European transport network and energy network,based on which this paper proposes the policy planning of the Belt and Road infrastructure construction in Asian countries:a)the basic principles of the construction of traffic infrastructure network include safety and efficiency,sustainability,economy,openness and inclusiveness;b)the basic steps of the construction of the traffic infrastructure network first are to determine the main axis of the traffic infrastructure,and then to build a regional network;c)the policy mechanism for the construction of transportation infrastructure network mainly includes the establishment of the Belt and Road Traffic Infrastructure Committee,the implementation of priority strategy and the establishment of the Belt and Road joint infrastructure fund etc.In the construction of energy infrastructure network,mainly to ensure the safety,sustainability and efficiency of regional energy supply,we should pay attention to the ecological protection and the application of the high and new technology on the basis of the overall planning.According to the theory of regional public goods supply,the reasonable financing structure arrangement such as the diversification of infrastructure supply can help to overcome government failure and market failure and other problems,and can effectively play all the main advantages to increase the flexibility and efficiency of infrastructure supply.For the Asian region along the Belt and Road,most countries is facing fiscal deficits continuing to tighten the fiscal budget,and the international multilateral development finance institutions only provide limited funds,but the large scale social capital has the potential advantages for the Belt and Road Asian countries infrastructure gap.PPP mode is the ideal mode of Asian countries in infrastructure construction,by which the social capital participates in the the Belt and Road,but the successful implementation of PPP mode requires certain conditions.The following contents are obtained based on the Poisson Regression model and the Generalized Least Squares model:a)the PPP model successful implementation of Asian countriest along the Belt and Road need the low inflation,the high economic openness and the flexible mature financial market etc;b)it also needs a good political environment,including a higher government efficiency and level of supervision,a stable political situation;c)the potential huge market for the success of PPP project is also very important;d)lower debt levels,aid provided by international multilateral development institutions and income from exporting natural resources will help to attract private capital to participate in infrastructure construction.Beginning a new journey in a new era.At the end,based on the actual situation of the Asian countries along the Belt and Road,this paper looks forward to the layout,regional distribution,industrial cooperation and institution setting of infrastructure construction from optimal allocation,policy planning,financing arrangement three aspects,and puts forward China's strategic considerations,including prioritize infrastructure construction gradually turning to the synchronization of infrastructure and industrial development,regional financing supply turning to the global money supply and infrastructure supply turning to advanced institutional supply etc.