The Impact Of Trade And Investment Facilitation On The Bilateral Trade Volume Of Countries Along With The Belt And Road

In order to better integrate into the international order to gain devel opment opportunities and benefits,the "One Belt and One Road" initiative can enhance the level of opening up,eliminate the differences in economi c development between urban and rural areas,break through the economic bottlenecks in the East,and enhance the position of the central and Western Regions in the development strategy.China should unite with all the countries along the belt to advocate t he development of the times and nature and seek for a higher index of happiness and a broader prospect.Economic development can promote the construction of "one belt and one road",release the potential of all countries,strengthen the integration and dev elopment of economy,and share results.With the maturity and diversity of information technology,trade and investment facilitation will shine in the international trade.How to use it to promote more stable development of trade and investment in the "one belt along the way" is the direction of our "One Belt and One Road" initiative.This paper sets trade and investment facilitation as five first-level indicators and 25 second-level indicators,among which the first-level indicators include infrastructure quality,information technology applicati on,economic and political environment,financial services and customs bo rder control.According to the research structure of this paper,first of all,it focuses on the impact mechanism of trade and investment facilitation on bilateral trade volume.It mainly elaborates the definition of related theoretical concepts and the mechanism of trade and investment facilitation on bilateral trade volume.Then,on the basis of the 46 countries along the belt,we use factor analysis to calculate the comprehensive score of trade and investment facilitation from 25 two level indicators.Thirdly,46 countries are divided into Southeast Asia,East Asia,Western Asia,central and South Asia,southern Europe and central and Eastern Europe according to their regions,and th en discuss the bilateral trade volume,investment and regional economic i ntegration of these six countries.Finally,it focuses on the empirical analysis of the impact of trade and investment facilitation on the bilateral trade volume of the countries alon g the belt,including three parts,quantile regression,Blinder-Oaxaca decomposition and quantile decomposition.This study shows that:(1)in the six regions studied,the level of trade and investment facilitation in East Asia,Central Asia,South Asia,southern Europe and Eastern Europe is lower than the average level of all countries along the belt and road,and there is still potential for further development in the future.(2)whether it is quantile regression or robustness test,trade and investment facilitation has a significant positive effect on the bilateral trade volu me of the countries along the belt.The distance between the two countries has a negative impact on them,and the regional economic integration organization has a positive impact on i t.In order to expand the scope of the core area of the Silk Road Economi c Belt,it is necessary to give full play to the role of regional economic integration organizations,so as to strengthen economic exchanges and cooperation among countries in the region and promote the process of trade and investment facilitation.(3)Acc ording to the result of Blinder-Oaxaca decomposition,the difference of bilateral trade volume caused by factors such as host country's GDP,population,distance and trade and investm ent facilitation is larger than other factors.(4)According to the resul t of quantile decomposition,the total difference decreases with the decrease of feature difference,and the decrease of feature difference exce eds the increase of coefficient difference.