Zusammenfassung:
This study examines the potential effects of China's "One-Belt One-Road" initiative (OBOR) on trade flows and global value chain connections. The empirical analysis is based on the augmented gravity model of international trade, which comprises 186 reporters and 199 partners in the period 2000-2018. We also estimate the gravity model for involvement in global value chains (domestic and foreign value added in exports and the value contributed by a partner to a reporter's exports). OBOR proves to be positively correlated with international trade and global value chains (GVC), while some of the corridors seem to be more beneficial than others (e.g. China-Pakistan, China-Mongolia-Russian Federation, and Bangladesh-China-India-Myanmar).