HKSAR Government to Fund IEMS Research on One Belt One Road


The HKUST Institute for Emerging Market Studies is leading an interdisciplinary research project on “Trade and Investment under One Belt One Road (OBOR) and Implications for Hong Kong”. The 3-year project was recently awarded a grant of more than HKD 3 million from the Hong Kong SAR Government under the Strategic Public Policy Research (SPPR) Scheme after a competitive review.

Led by Albert Park, Director of the Institute and a Professor in the Economics Department, the research team also includes three other faculty members from the School of Business and Management–Edwin Lai and Alicia Garcia Herrero from the Department of Economics, and Abhiroop Mukherjee from the Department of Finance; as well as Naubahar Sharif and Barry Sautman from the Division of Social Science.

The project is composed of five inter-related studies addressing the following topics:

  • how OBOR will affect international trade flows, especially for China, Hong Kong, and OBOR countries;
  • how increased trade from OBOR may increase the use of the Renminbi in trade settlement, contributing to its internationalization;
  • how OBOR investments are implemented and their development impacts based on country case studies (including Pakistan, Kenya, Ethiopia, Sri Lanka, and Russia);
  • the development impacts of infrastructure projects as revealed by a road building project in India;
  • and the potential for Hong Kong financial institutions to provide capital and financial services for OBOR investments.

The researchers hope that their studies will provide valuable evidence-based insights that can help the Hong Kong SAR government to design optimal trade and investment policies to bolster Hong Kong’s future development.

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