Disentangling China's Infrastructure Investment in Africa: A Symbiotic Partnership or an Unequal Substitute for African Resources?
研究了2005至2019年中国在46个非洲国家的基础设施投资如何影响非洲对华出口，发现初级产业投资促进资源出口，非初级产业投资则产生替代效应。
Abstract This paper examines how China's infrastructure investment influences African exports to China. We analyse data from 46 African countries and 14 industries that have received China's infrastructure investment from 2005 to 2019. Our results show that China's infrastructure investment in the primary sector has led to more African exports to China (i.e. resource‐seeking). In contrast, investment in the non‐primary sector has had a substitution effect on African exports to China (i.e. market‐seeking). We find that China's infrastructure investment in Africa is driven mainly by resource‐seeking. We further document that both the host country's endowment of natural resources and the resources for infrastructure arrangement moderate the positive impact of China's infrastructure investment on African exports to China. These results consistently confirm that China's infrastructure investment in Africa has facilitated China's access to African natural resources.