The “Belt And Road” Initiative And The Promotion Of Countries Along The Routes In The Global Value Chain

Globalization is one of the outstanding characteristics of today’s economic development.As IT develops rapidly and becomes more open to trade,the trade ability of intermediate input products and the decomposition of production division of labor are increasingly improved,and the product production has formed a structural layout from the internal value chain as the carrier to the global value chain as the carrier.This gives countries the opportunity to integrate into global value chains with their comparative advantage.However,some developing countries seem to be integrated,but they are in the dilemma of low-end lock-up.Combined with the prominent antiglobalization issues such as trade protectionism after the 2008 financial crisis,they are not conducive to the sustainable and healthy development of the global value chain.At the right time,China put forward the "Belt and Road" initiative,with improving the global economic governance system and building a beneficial global value chain as its main goal,while taking infrastructure as the most priority area of cooperation.Based on the above dual background,this paper studies the theoretical and practical significance of the "Belt and Road" initiative in the value chain and explores the role of infrastructure in it.His paper is based on the global value chain theory and domestic and foreign literature research,using relevant data from the 65 economies of the Organization for Economic Cooperation and Development from 2010-2010: First,using the KPWW method to measure the global value division status index of different countries,construct a dual difference model to identify the policy effect of "Belt and Road" construction on GVC status;Then,a general trend test and multi-robust test are carried out to make sure that the empirical results of the main regression are reliable,use the intermediary effect model to test and analyze the mechanism that the "Belt and Road" initiative affects the value chain through infrastructure construction;Last,considering the possible heterogeneity characteristics exhibited by different countries and regions or industries,economic development,time effect and industry division are analyzed and give a reasonable explanation.The study results show that the:(1)The "Belt and Road" initiative has a significant positive impact on the promotion of the global value chain;(2)The infrastructure plays the mechanism of the global value chain;(3)After the "Belt and Road" initiative is proposed,the first countries,emerging markets and developing economies,and the infrastructure dependent industries are more effective.Combined with the above test results,this paper gives policy suggestions from the perspectives of overall development of "Belt and Road" and infrastructure construction,to some extent,for "Belt and Road" policy effect research opened a new theoretical perspective,for "Belt and Road" cooperation results provides more scientific,reliable and convincing evidence,to encourage more countries to participate in the "Belt and Road" construction,help to shape more open,interconnected,perfect trade structure and partnership,practical cooperation,mutual benefit and win-win situation.