Year: 2025
Type: article
Abstract: The global industrial structure is accelerating its transformation, and global value chains are being restructured under the differentiation of trade systems and investment. This paper discusses the impact of OFDI on GVC restructuring under the “Belt and Road” initiative, aiming to analyze the resource reallocation of Chinese enterprises in the global market and its role in value chain upgrading. This paper finds that OFDI can significantly increase the degree of GVC embeddedness of enterprises, in which technological innovation, vertical integration adjustment, specialization and industrial chain integration are important mechanisms affecting the upgrading of GVC. The moderating effect of “Belt and Road” is weakly negatively correlated, but the trade facilitation, digital infrastructure improvement and financial support it promotes provide long-term development momentum for enterprise GVC embeddedness. Meanwhile, private firms, manufacturing firms, and non-asset-intensive firms are more likely to benefit from OFDI and enhance GVC embeddedness.
Author: Xinyi Wu
Institution: Shanghai University of Finance and Economics
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4409210668