Research on the Investment Effect of Chinese Cultural “Going Out” —Empirical Evidence from the Countries along the “Belt and Road”

This paper is based on 2006-2017 relevant data of 56 countries along the “Belt and Road” to find out the investment effect of cultural “going out”. The empirical results show that: cultural “going out” has a significant promotion effect on China’s foreign direct investment; this effect has national heterogeneity, which is more effective for emerging markets and developing countries; for some traditional influence factors, such as traditional GDP per capita and time for diplomatic relations, cultural “going out” has a substitution effect. Finally, according to the empirical results, put forward targeted suggestions.