| In the stage of "One Belt And One Road"2.0,we need to further promote the construction of "One Belt And One Road" to achieve policy communication,facility connectivity,unimpeded trade,financial integration and people-to-people exchanges.The interconnection of language and culture is the premise and foundation.Whether the information in the process of foreign investment can be correctly conveyed has an important impact on the realization of investment.The role of language and culture in foreign trade and investment should not be underestimated.Language exchange,Shared,co-built and win-win with other countries,has a direct bearing on the success or failure of investment.Language barrier not only shows the distance between languages and cultures,but also the proximity of two languages,which can promote mutual communication,bilateral trade and foreign direct investment.This research focuses on the impact of language and cultural barriers on "One Belt and One Road" OFDI locationThis study will focus on the following questions:1)What are the language and culture barriers between China and "One Belt And One Road" countries?How are language and cultural barriers rated?2)If other variables remain unchanged,will language and cultural barriers have the impact on "One Belt and One Road" OFDI?3)How does the investment potential measurement after adding language and cultural differences affect the investment site selection decision?4)How to overcome language and cultural barriers in the site selection of "One Belt And One Road" OFDI in China?What are the countermeasures for OFDI location?Based on the availability of data,the following four types of data were selected in this study:1)Language Barrier Index(LBI).2)Cultural Barrier Index(CUL)3)Other control variables are GDP of the host country,per capita GNI of the host country,geographic distance between China and the host country(DIST),technological level of the host country(TECH),political stability of the host country(PO),and whether China and the host country have investment protection agreement(BIT).The data were obtained from the world bank database,the CEPII geographic distance database,the global competitiveness report,the global governance index,and the website of the treaty and law division of the ministry of commerce.4)The data of OFDI are selected from the panel data of China’s total OFDI from 2008 to 2016 released by the ministry of commerce.Research methods include language barrier index measurement method,cultural barrier index measurement method,cluster analysis method,extended gravity model method and investment potential measurement methodThis study is based on linguistic typology,linguistic distance theory,linguistic economics,cultural dimension theory,cultural distance theory,cultural economics,transnational investment theory,investment location theory and other relevant theoretical basis.This research constructed the theoretical model of the influence of language and culture on China’s foreign investment and the countries along the "One Belt And One Road" route.The language index and cultural index were further refined,and the language and cultural barrier index was specifically measured.As the main explanatory variable,it was introduced into the model to classify the indicators more precisely.The index of language and cultural barriers in transnational investment site selection is constructed.For the first time,the measurement of language barriers and cultural barriers index is applied to the study of "One Belt And One Road" outbound investment site selectionThe following important findings were obtained in this study:1)In general,the language and cultural barriers between China and "One Belt And One Road" countries are large.language barriers in China and countries along the "One Belt And One Road" route still present a large situation,and there are polarization differences.Language barriers can be divided into 7 grades.The maximum language barrier is Malay(0.99).The index of language barrier between Chinsese and Ukrainian,Croatian,Serbian,Mongolian,Nepali are larger(LBI>0.8).There are 25 languages with a high language barrier index(LBI>0.71),which include Vietnamese,Thai,Burmese,Khmer(LBI=0.47).Minimum barriers is Punka and Indonesian(LBI<0.5).From the perspective of region,the countries with large language barriers in China are mainly concentrated in the Middle East and eastern Europe,while the language barriers in southeast Asia are small.Cultural differences tend to be polarized.From the perspective of country and sub-region,the cultural distance between different regions is generally not very different,but from the perspective of different dimensions,especially the indicators of traditional cultural dimensions such as religions and ethnic groups,there are still significant differences2)Empirical study found that the language barrier and cultural distance index and our country on "neighborhood" all the way along the country’s foreign direct investment flow was significantly negative correlation,in the case of other variables are constant,the language barrier index to a 10%drop in on their investment in China has increased by 10.61%,cultural distance index to a 10%drop in on their investment in China has increased by 9.61%,with the language barrier,cultural barriers in our country,the greater the country,the less for its investment in China,thus,language and cultural barriers affect the host country to attract foreign direct investment in China,leading to lower investment.Therefore,when carrying out the construction of "One Belt And One Road",we need to consider the obstacles brought by the language and culture of countries along the route.In the process of investment site selection,language and culture should be taken as an important factor and risk control factor to be included in the decision of investment site selection to increase the success rate of investment site selection3)Prioritize investment site selection of countries along the "One Belt And One Road" route from the perspective of language and culture.From the perspective of language barrier,The scale of China’s investment in northeast Asia is relatively reasonable,which belongs to "potential development".Some countries in southeast Asia are seriously under-invested and are classified as "high potential".Investment in south Asian countries is moderate,and some countries are under-invested,which is classified as"high potential" The west Asian and north African countries are polarized in terms of investment,with both over-investment and under-investment.Some countries are in the category of "huge potential",while some are in the category of "potential re-shaping" and belong to the mixed market.The situation of CEECs is similar to that of the west Asian and north African countries,and they are also "high potential" and "potential remodel-ling" hybrid markets.Investment in central Asian countries is moderate and individual countries are "high potential".Considering the language barrier and investment potential,top ten countries should be prioritized for the location of the foreign direct investment:Singapore(0.76),Nepal(0.87),Turkmenistan(1.04),Uzbekistan(0.92),Sri Lanka(1.07),Tajikistan(1.13),Serbia(1.16),Malaysia(1.17),Syria(1.20),Belarus(1.21).From the perspective of cultural barriers,China’s investment in northeast and northeast Asia is under-investment and under-investment turns to moderate investment,and there is investment potential to be explored,which is "potential development".The overall investment of southeast Asian countries is insufficient,which belongs to the"huge potential type".There is polarization of investment in south Asian countries,and some countries are under-invested,which belongs to the "huge potential type".The west Asian and north African countries are moderately under-invested,while some of them are seriously under-invested,and are of the "huge potential type".Investment in cee countries is polarized and diversified.Some countries are "high potential" and some are"re-shaping" their potential.The central Asian countries are under-invested and are classified as "high potential".Considering the cultural barriers and investment potential,top ten countries should be prioritized for the location of the foreign direct investment:India(0.51),Poland(0.52),Croatia(0.55),Hungary(0.73),Malaysia(0.70),Indonesia(0.76),Azerbaijan(0.74),Yemen(0.79),Jordan(0.81),Kyrgyzstan(0.84)Based on the economic index of the " One Belt And One Road ",and the perspective of language and culture,the index of foreign investment potential of the countries along the "one belt and one road" will be given priority to considering the investment potential of those countries,including Singapore,Russia,India,Iran,Turkmenistan,Montenegro,Vietnam,Bahrain,Thailand,Philippines,Laos,Bulgari,Poland,Cambodia,Israel,Croatia,Czech RepublicThis research has made contributions in theory,methodology and application valueFirst,in the aspect of theory,this study based on linguistic typology to build an index system of index of the language barrier,then based on the theory of cultural dimensions to build paper cultural distance index,index system,finally proposes the obstacles of language and culture of "area" the influence of foreign direct investment,combining linguistics,cross-cultural research and economics,constructs the interdisciplinary theoretical systemSecondly,from the perspective of methodology,this study constructs the index model of language and cultural barriers and uses the extended gravity model to measure the influence of language and cultural barriers on the siting of "One Belt And One Road OFDI,and measures the potential coefficient and priority of "One Belt And One Road OFDI from the perspective of language and cultureThird,at the application value level,1)to achieve regional economic integration and provide reference opinions for China’s "One Belt And One Road" OFDI site selection;2)promote the development of China’s language and cultural industry and enhance the soft power of China’s language and culture;3)to help enterprises understand the language and cultural differences between China and countries along the "One Belt And One Road"route and avoid investment risks.To sum up,this study constructed the language barrier index index,index system,index system and cultural distance measurement by language and culture barriers of area,the influence of the foreign direct investment from the point of view of language and culture to measure the "region" and prioritization of potential coefficient,the foreign direct investment to China’s enterprises and development of "area" "go out" to provide valuable data and countermeasures are suggested. |
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