Research On Trade Efficiency Of Major Countries Along The Belt And Road

After Xi Jinping proposed the "Belt and Road" Initiative in 2013,many countries and international organizations have actively participated in and supported the construction of the "Belt and Road" initiative.With the continuous development of cooperation among countries along the "Belt and Road",these countries have shown great trade potential.In order to understand the trade situation of countries along the "Belt and Road" and promote the trade between these countries,this paper chooses to study the trade efficiency and the factors affecting trade efficiency of major countries along the "Belt and Road".First of all,this paper uses the documentary research to conduct a review of the domestic and international literature on the trade efficiency of major countries along the "Belt and Road".The previous research progress is the basis of this paper.Secondly,the descriptive statistical analysis method is used to illustrate the trade status of countries along the "Belt and Road".The study found that countries with high trade competitiveness index do not necessarily have high trade openness;then,using Principal Component Analysis to select the input indicators of the Data envelopment analysis(DEA)model,and using the DEABCC model to evaluate the trade efficiency of countries along the "Belt and Road".;finally,Tobit and CLAD regression models were used to analyze the factors affecting trade efficiency.The research results show that the trade efficiency level of countries along the "Belt and Road" varies greatly.In 2012 and 2016,countries with high levels of trade efficiency were Vietnam,Russia,Mongolia,Cambodia and Madagascar.These countries are all in a valid state of DEA;compared with 2012,China's comprehensive trade efficiency,pure technical efficiency and scale efficiency have improved.This shows that under the "Belt and Road" initiative,China's resource allocation level and technical level have improved.Among the factors affecting trade efficiency,it is found that the six factors of market access,border management,economic factors,infrastructure,science and technology culture and institutional factors which extracted from principal component analysis were different in 2012 and 2016 which indicating that the factors affecting trade efficiency of countries along the "Belt and Road" are time-varying.Among the factors affecting the trade efficiency of major countries along the "Belt and Road",infrastructure factors and scientific and technological factors have a positive effect on the improvement of trade efficiency among these countries.Market access,border management and economic factors have a negative impact on trade efficiency.Institutional factors have a negative effect on trade efficiency in 2012 and have a positive effect on trade efficiency in 2016.Based on the above research results,this paper proposes the following suggestions: speed up the construction of innovative countries;strengthen intergovernmental communication and cooperation;build a clear property rights system;strengthen infrastructure construction;explore efficient ways to improve government regulatory efficiency;and negotiate to promote regional political stability;Actively respond to the chauvinist intervention of big countries.