What is it about?
This study analyzes the spatial spillover effects of regional economic development between China and the ten ASEAN countries from 2010 to 2019, within the context of the Belt and Road Initiative. Using a spatial econometric model, the research finds strong spatial correlations and positive spillover effects between their economies. Key factors such as scientific and technological innovation, service industry development, urban population, unemployment rate, and openness significantly influence regional economic growth. Additionally, the urban population, unemployment rate, and openness of neighboring countries also positively contribute to regional development.
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Why is it important?
The study highlights the strong economic interdependence between China and ASEAN countries under the Belt and Road Initiative, showing that regional growth is influenced not only by domestic factors like innovation and service sector development but also by the socio-economic conditions of neighboring countries. This underscores the importance of cross-border cooperation and coordinated development strategies to maximize regional economic benefits.
Perspectives
This study offers valuable insights into how regional cooperation, especially under the Belt and Road Initiative, extends beyond trade to foster shared economic growth through spatial spillovers. It reinforces the idea that sustainable development in interconnected regions like China and ASEAN requires collaborative policymaking, mutual investment in innovation, and strategic openness to fully harness the benefits of regional integration.
Dr. Muhammad Khalilur Rahman
Faculty of Entrepreneurship and Business University Malaysia Kelantan
Read the Original
This page is a summary of: The Regional Economic Spatial Spillover Effect of China and ASEAN, Journal of Industry Competition and Trade, February 2025, Springer Science + Business Media,
DOI: 10.1007/s10842-025-00440-1.
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