Comparative Study on the Internationalization Paths of Emerging Economies: Based on the Dual Perspectives of Institutional Distance and Resource Endowment

This study takes 12 countries along the "Belt and Road Initiative" as samples to build a "dual-cycle driving model" to reveal the differentiated impact of institutional distance and resource endowment on the internationalization path of enterprises. Quantitative analysis shows that an increase of one point in institutional distance leads to a delay of 6-8 months in investment, and a 10% increase in resource matching can accelerate the expansion by 1.2%. Typical cases show that policy coordination (such as BYD's Hungarian layout) and ecological construction (such as Transsion's African market penetration) are the key to breaking through the disadvantage of latecomers. At the end of the paper, the "trinity" policy framework and dynamic assessment tool are proposed to provide strategic guidance for enterprises and governments.