Due in July 2019.
The Belt and Road Initiative (BRI) is an effort to improve regional cooperation and connectivity on a transcontinental scale. The initiative aims to strengthen infrastructure, trade, and investment links between China and some 70 other countries that account collectively for over 30 percent of global GDP, 62 percent of population, and 75 percent of known energy reserves. The BRI consists primarily of the Silk Road Economic Belt, linking China to Central and South Asia and onward to Europe, and the New Maritime Silk Road, linking China to the nations of South East Asia, the Gulf Countries, North Africa, and on to Europe. Regional cooperation on the new and improved transport infrastructure and policy reforms could reduce trade costs and improve connectivity, leading to higher cross-border trade and investment and improved growth in the region.
This book analyzes the economics of the Belt and Road Initiative with a particular focus on connectivity. It covers three main areas of analysis. First, it assesses the connectivity (for example, transport, trade, investment) gaps in the BRI region. Second, it examines the economic effects of the proposed BRI infrastructure improvements, including the impact on international trade, cross-border investment, allocation of economic activity, and inclusive growth in the BRI countries. Third, it identifies complementary policy reforms and institutions that will support welfare maximization and mitigation of risks for all BRI economies.