Has the belt and road initiative boosted the resident consumption in cities along the domestic route? – evidence from credit card consumption

The Belt and Road (B&R) is a major initiative and vision for China and the world to jointly create prosperity. Based on the data of resident credit card consumption in 291 cities in China from 2011 to 2016, this article establishes a consumption relationship model for cities along the B&R to investigate the impact of the initiative on resident consumption. Through the DID model, there are the following findings. First, the B&R Initiative has a significant positive impact on the resident consumption in cities along the route. Second, the B&R Initiative has a significant effect on the promotion of various industries, and the crowding-out effect of government investment is relatively small. The research conclusions are of reference significance for policy formulation on the specific practice path and detailed measures of the B&R Initiative.