1、 A Study on the Effectiveness of Chinas Sovereign Financing in Africa Final Report October 2023 Department of International Development Cooperation Institute of New Structural Economics at Peking University 1 Table of contents Chapter 1.Introduction.2 Section 1.Global Policy Background and Theoretic

2、al Framework.2 Section 2.The History of Sovereign Financing.4 Section 3.The Definition of Sovereign Financing in This Study.6 Chapter 2.Chinas Financing System in Africa.7 Section 1.Current Situation of Sovereign Financing in Africa.7 Section 2.Chinas Financing Structure in Africa.10 Chapter 3.Empir

3、ical Analysis of the Effectiveness of Chinas Financing in Africa.15 Section 1.Literature Review.15 Section 2.Research Questions and Hypotheses.17 Section 3.Regression Model.17 Section 4.Empirical Results.21 Chapter 4.Cases on the Effectiveness of Chinas Financing in Africa.33 Section 1.Transportatio

4、n.35 Section 2.Energy.37 Section 3.Digitalization.40 Section 4.Benefiting Peoples Livelihood.42 Chapter 5.Summary of Main Findings and Policy Recommendations.45 Section 1.Summary of Main Findings.45 Section 2.Policy Recommendations.48 Annex.52 References.63 2 Chapter 1.Introduction Section 1.Global

5、Policy Background and Theoretical Framework In 1944,the international community established a post-war reconstruction and economic cooperation mechanism with the World Bank and the International Monetary Fund as the core.Since 1973,the World Bank has proposed the twin goals of eradicating global ext

6、reme poverty and promoting shared prosperity.During this period,China achieved great economic development results.In 1978,Chinas per capita GDP(current US$156.4)was less than one-third that of Sub-Saharan Africa(current US$507.5).By 2022,Chinas per capita GDP reached current US$12,720.2,making it an