ORIGINAL RESEARCH
The Green Effects of China’s Direct Investment
in Belt and Road Initiative Countries: Mechanisms
and Empirical Testing
			
	
 
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				School of Economics and Management, China JiLiang University, China
				 
			 
										
				
				
		
		 
			
			
			
			 
			Submission date: 2023-06-30
			 
		 		
		
			
			 
			Final revision date: 2023-09-08
			 
		 		
		
		
			
			 
			Acceptance date: 2023-09-21
			 
		 		
		
			
			 
			Online publication date: 2024-02-06
			 
		 		
		
			
			 
			Publication date: 2024-02-28
			 
		 			
		 
	
							
										    		
    			 
    			
    				    					Corresponding author
    					    				    				
    					Wei  Le   
    					School of Economics and Management, China JiLiang University, China
    				
 
    			
				 
    			 
    		 		
			
																	 
		
	 
		
 
 
Pol. J. Environ. Stud. 2024;33(3):2407-2419
		
 
 
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ABSTRACT
Based on the systematic GMM and intermediation model, the impact of China's direct investment on
the green total factor productivity (GTFP) of the Belt and Road Initiative (BRI) countries are examined
from the data of 48 countries during the period of 2008-2019. The results show that China's direct
investment can significantly contribute to GTFP in BRI countries through the mediating mechanisms
of scale, structural and human capital effects. Of these, the main one is the scale effect. In addition, the
scale, structural and human capital effects all positively moderate the green driving effect of China's
direct investment in BRI countries, while the technology effect weakens the process.