This paper examines the impact of Chinese investments in infrastructure facilities within the New Silk Road on the growing economies of the host countries. Using Multivariate Analysis method, the impact of Chinese and total FDI on several key economic indicators of Serbia are measured separately and compared. The statistical procedure includes two tests of the statistical significance of the estimated correlation: P-value, as a part of Multiple Variable Analysis, and F-test, which is commonly used for small samples. The results show a much stronger and more positive impact of Chinese investment than total FDI but also point to the direction of a change, such as increasing of import of goods and services, the reduction of unemployment and the increase in the employment rate, as well as the degree of openness of the economy.
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