Based on the cross-border panel data of China and 149 Belt and Road Countries (BRCs), this book uses the difference-in-differences model, the spatial econometric model and the stochastic frontier model to examine the relationship between economic risk and China’s foreign infrastructure investment from the perspective of scale and efficiency. At the same time, we also pay attention to the role of the Belt and Road Initiative in it. The main policy implications include: deepen cooperation with BRCs to create a favorable environment for the internationalization of enterprises; continue to support enterprises to go global, participate in infrastructure co-construction, and gradually strengthen infrastructure connectivity with BRCs; the Chinese government should actively explore judicial coordination and investment protection mechanisms to help enterprises avoid risks; China should focus on optimizing the industry and location layout of foreign investment and improving investment efficiency.

作为一项以基础设施为主导的大规模的经济一体化倡议，“一带一路”倡议地实施极大推动了我国在基础设施领域投资的快速增长，该领域已经成为近年来的投资热点。基于此，本书运用中国与共建“一带一路”国家的相关数据，以及统计研究和计量经济学研究方法，在考察我国基础设施投资演变的基础上，主要从投资规模和效率两个方面来考察经济风险和基础设施投资的关系，试图为我国对外投资可持续发展提供决策参考。作为对外投资的重要领域，基础设施项目具有资本金额大、投资周期长的特点，因此本研究对经济风险和基础设施投资的研究具有一定理论与实践价值。

Ｃｈａｐｔｅｒ １ Ｉｎｔｒｏｄｕｃｔｉｏｎ ／ １Ｃｈａｐｔｅｒ ２ Ｌｉｔｅｒａｔｕｒｅ Ｒｅｖｉｅｗ ａｎｄ ｔｈｅ Ｔｈｅｏｒｅｔｉｃａｌ Ｂａｓｉｓ ／ ２１Ｃｈａｐｔｅｒ ３ Ｔｈｅ Ｅｖｏｌｕｔｉｏｎ ａｎｄ Ｍａｉｎ Ｆｅａｔｕｒｅｓ ｏｆ Ｃｈｉｎａ’ｓ ＯＦＤＩ ｉｎＩｎｆｒａｓｔｒｕｃｔｕｒｅ ａｎｄ Ｅｃｏｎｏｍｉｃ Ｒｉｓｋ ／ ３７Ｃｈａｐｔｅｒ ４ Ｔｈｅ Ｅｆｆｅｃｔｓ ｏｆ ｔｈｅ Ｂｅｌｔ ａｎｄ Ｒｏａｄ Ｉｎｉｔｉａｔｉｖｅ ｏｎ ｔｈｅＳｃａｌｅ ｏｆ Ｃｈｉｎａ’ｓ ＯＦＤＩ ｉｎ Ｉｎｆｒａｓｔｒｕｃｔｕｒｅ ／ ９２Ｃｈａｐｔｅｒ ５ Ｔｈｅ Ｉｍｐａｃｔｓ ｏｆ Ｅｃｏｎｏｍｉｃ Ｒｉｓｋ ｏｎ ｔｈｅ Ｓｃａｌｅ ｏｆ Ｃｈｉｎａ’ｓＯＦＤＩ ｉｎ Ｉｎｆｒａｓｔｒｕｃｔｕｒｅ ／ １１８Ｃｈａｐｔｅｒ ６ Ｔｈｅ Ｅｆｆｅｃｔｓ ｏｆ Ｅｃｏｎｏｍｉｃ Ｒｉｓｋ ｏｎ ｔｈｅ Ｅｆｆｉｃｉｅｎｃｙ ｏｆＣｈｉｎａ’ｓ ＯＦＤＩ ｉｎ Ｉｎｆｒａｓｔｒｕｃｔｕｒｅ ／ １４７Ｃｈａｐｔｅｒ ７ Ｃｏｎｃｌｕｓｉｏｎｓ ａｎｄ Ｐｏｌｉｃｙ Ｉｍｐｌｉｃａｔｉｏｎｓ ／ １７２Ｒｅｆｅｒｅｎｃｅｓ ／ １７９Ａｐｐｅｎｄｉx １ ／ １９２Ａｐｐｅｎｄｉx ２ ／ １９４