This paper aims to study the determinants of location choice of China's direct energy investment in BRI countries. It also attempts to analyze the impact of the Belt and Road Initiative on the effect of national distance. For this purpose, the gravity model is applied to the data over the period...

Although globalization has diminished the importance of distance, empirical gravity models find little change in distance coefficients. We argue that changing distance costs are largely reflected in the constant term. A proportional fall in distance costs is consistent with constant distance...

We propose a methodology for gravity models which overcomes weakness of institutional distance measures identified in international business literature (Shenkar, 2001). Our methodology is based on combination of the distance approach with cluster analysis of states according to their...