期刊論文

標題 Are Financial Development and Trade Openness Complements or Substitutes?
學年 98
學期 1
出版(發表)日期 2010/01/01
作品名稱 Are Financial Development and Trade Openness Complements or Substitutes?
作品名稱(其他語言)
著者 Kim, Dong-hyeon; Lin, Shu-chin; Suen, Yu-bo
單位 淡江大學經濟學系
出版者 Chattanooga: Southern Economic Association
著錄名稱、卷期、頁數 Southern Economic Journal 76(3), pp.827-845
摘要 This article studies the long- and short-run relationships between financial development and trade openness. Using the pooled mean group estimator of Pesaran, Shin, and Smith (1999) for unbalanced panel data for 87 countries over the 1960-2005 period, our empirical results indicate that long-run complementarity between financial development and trade openness coexists with short-run substitutionarity between the two policy variables. But when splitting the data into OECD and non-OECD country groups, this finding can be observed only in non-OECD countries. For OECD countries, financial development has negligible effects on trade. In addition, we find nonlinearity in the relationship in that long-run responses of trade decrease with financial development. The article further finds coexistence of negative trade effects of financial fragility and positive trade impacts of financial depth.
關鍵字
語言 英文
ISSN 0038-4038
期刊性質 國外
收錄於 SSCI
產學合作
通訊作者 Lin, Shu-chin
審稿制度
國別 美國
公開徵稿
出版型式 紙本