A Study On The Influence Of The Characteristics Of Direct Investment Network On The Upgrading Of Global Value Chain In The Countries Along "Belt And Road"

With the development of Belt and Road's initiative,the role of foreign direct investment(FDI)is becoming more and more obvious in the "Belt and Road" strategy,and FDI is an important way to participate in the upgrading of global value chain and enhance the international competitiveness of a country.The development of foreign direct investment(FDI)from countries along "Belt and Road" will enhance the global value chain status of the countries along the "Belt and Road" route and optimize the resource allocation of the countries along the route.It is of great significance to form a win-win regional economic layout and cooperation network.From the perspective of foreign direct investment networks,the author will make in-depth analysis of network features of FDI and inner links of global value chain upgrade on nations alongside the Belt and Road.Targeted on nations alongside the Belt and Road,the author comprehensively applies various methods including social net analytical method,modular analytical method,KWPP decomposition method and panel model inspection method,so as to study what impact the relevant network features of FDI in countries alongside the Belt and Road will have on its global value chain upgrade.The research approach of this paper is: First,through the research on the status of the global value chain theory,global value chain upgrade,and international direct investment network,it summarizes and then puts forward the focus.Second,using social net analytical method and modular analytical method,it analyzes the direct investment status of countries alongside the Belt and Road in three aspects: structural feature,dominant position feature,and investment pattern feature.Third,by the empirical research and relevant theories on the features of direct investment networks and the global value chain upgrade,it attempts to obtain the underlying mechanism which has affected the global value chain upgrade in perspective of network features of FDI,and comes up with research hypothesis.Fourth,using the KPWW decomposition method to measure the value chain participation and location index of 24 countries alongside the Belt and Road,it builds an econometric model with empirical analysis based on the research hypothesesproposed before.Fifth,it proposes that foreign direct investment by countries alongside the Belt and Road will promote the upgrading of their value chains.The author has discovered that: First,the direct investment networks of countries alongside the Belt and Road are characterized by scale-free and small-world network,and China,Turkey,and Russia all play an important function as “bridge” and “hub” in the network.Second,although the investment relations among the countries alongside the Belt and Road are very close,the unbalanced non-reciprocal investment model still exists in the entire investment network.Third,China mainly plays the role of an initial investor in the direct investment network of countries alongside the Belt and Road,while Turkey is more than an absorber.And Russia's investment model is the most reciprocal,and also with a certain degree of group investment characteristics.Fourth,the network centrality in global direct investment network of countries alongside the Belt and Road have a significant positive impact on the upgrading of global value chains,which can effectively promote the participation of value chains in countries alongside the Belt and Road.Fifth,for the countries alongside the Belt and Road,it is conducive to the upgrading of their global value chains due to the network strength and diversity in the world's direct investment networks.Sixth,the openness of the countries alongside the Belt and Road has also had a apparently positive impact on their global value chains upgrade.To sum up,the author aims to grasp the core issues that the network features of FDI in countries alongside the Belt and Road have promoted their global value chains upgrade.From the aspects of investment breadth,investment intensity and geographical concentration degree of investment objects,a logical self-consistent value chain upgrading mechanism is given.On the basis of that,a path selection with theoretical and data support is put forward in the end.