Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/288339 
Authors: 
Year of Publication: 
2020
Citation: 
[Journal:] International Economics and Economic Policy [ISSN:] 1612-4812 [Volume:] 17 [Issue:] 3 [Publisher:] Springer [Place:] Berlin, Heidelberg [Year:] 2020 [Pages:] 687-704
Publisher: 
Springer, Berlin, Heidelberg
Abstract: 
The paper deals with the interplay of major international infrastructure initiatives, in particular China’s Belt and Road Initiative, Japan’s Partnership for Quality Infrastructure and the EU strategy on “Connecting Europe and Asia”. Their co-evolution is interpreted as the creation and further development of a new market, whose characteristics like its complexity, its properties as an international public good and its oligopolistic supply structure create interesting insights. The paper finds that initiatives have adjusted to each other, in line with expectations from a market perspective. While China’s initiative at first followed a “low-price” strategy, Japan reacted with a “quality infrastructure” approach, also winning support from multilateral fora like G7 and G20. With the Second Belt and Road Forum, China has signaled to move closer to this line as well, and the EU is pursuing a similar approach as Japan, signing a partnership agreement with it. Interpreting this interaction as an oligopolistic structure, a chaotic competitive process has so far been avoided. The contest is actually evolving towards superior solutions, raising the quality of institutional infrastructure initiatives and, hopefully, of specific projects as well.
Subjects: 
Infrastructure
Connectivity
Belt and road initiative
China
Japan
European union
JEL: 
F53
F55
H87
L91
O19
P45
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article
Document Version: 
Published Version

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.