Research On The Impact Of Digital Economy Development In Countries Along The "Belt And Road" On China’s OFDI

With the further advancement of economic globalization,the connection between China and the world economy has become more and more closely,and China’s foreign direct investment has also entered a stage of rapid development.Under the impact of the new crown pneumonia epidemic,the digital economy has made important contributions to fighting the epidemic and maintaining social peace by means of telemedicine,collaborative office and other forms.The digital economy has gradually grown into a new engine leading the recovery and development of the world economy.With the deep integration of digital technology and all walks of life,international capital flows and cross-border investment have also been affected accordingly,but at present,the phenomenon of "digital divide" is widespread in the world.Therefore,studying the relationship between the development of the digital economy and my country’s OFDI growth has guiding significance for the rational investment layout of multinational enterprises and the construction of China’s digital economy.In order to explore the relationship between the digital economy development of countries along the "Belt and Road" and my country’s OFDI,this paper is based on previous researches.First,it sorts out the transaction cost theory and the investment-inducing factor combination theory,analyzes the mechanism by which the digital economy affects foreign direct investment,and proposes It is assumed that the development of the digital economy in the countries along the "Belt and Road" will promote China’s foreign direct investment by reducing the cost of international trade,improving the quality of the system,and improving the level of human capital.Then,based on the connotation and characteristics of the digital economy,the entropy method is used to construct the digital economy development level index from three aspects:digital infrastructure construction,institutional guarantee and innovation environment,and digital technology export competitiveness.Evaluation and comparative analysis of the digital economy development level of countries along the route.Thirdly,taking 32 countries along the route as the research object,an expanded trade gravity model is constructed to explore the impact of the digital economy development level of the countries along the route on my country’s OFDI.And through the mediation effect model,the mechanism of how the development level of the digital economy in the countries along the route affects China’s foreign direct investment is tested.The empirical results show that:first,there is a significant gap in the development level of digital economy among countries along the route,and the interconnection of digital infrastructure is an important support for the development of digital economy in countries along the route;The direct investment of the country has not yet formed a significant scale effect on the whole;third,the test results of the mediation effect model show that the development of the digital economy in the countries along the Belt and Road has the potential to attract Chinese investment by reducing transaction costs,improving institutional quality and improving human capital.Influence Mechanism.Finally,based on the above theoretical analysis and empirical results,it is proposed that China should pay more attention to government guidance and institutional incentives,and enterprises should also take the initiative to connect with the market and respond to government policies.