期刊論文

標題 The simultaneous evolution of economic growth, financial development, and trade openness
學年 99
學期 2
出版(發表)日期 2011/03/01
作品名稱 The simultaneous evolution of economic growth, financial development, and trade openness
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 Abingdon: Routledge
著錄名稱、卷期、頁數 The Journal of International Trade & Economic Development 21(4), pp.513-537
摘要 This article empirically investigates the interactions among economic growth, financial development, and trade openness through simultaneous equation systems. The identification and estimation of the systems rely on the methodology of identification through heteroskedasticity. The empirical results show that each of the three variables interacts in important ways. When controlling for the reverse causation, trade promotes economic growth in high-income, low-inflation, and nonagricultural countries but has a negative impact on growth in countries with the opposite attributes. Similarly, when accounting for the feedbacks from growth, banks and stock markets have different impacts on economic growth. While banking development is detrimental to output growth, stock market development is more favorable to growth in high-income, low-inflation, and nonagricultural countries. The data also reveal coexistence of a positive effect of financial development on trade and a negative effect of trade on financial development in poorer countries. In richer countries, financial development stimulates trade openness whereas trade has an ambiguous impact on financial development.
關鍵字 economic growth; financial development; trade openness; identification through heteroskedasticity; C33; G21; O16
語言 英文(美國)
ISSN 0963-8199
期刊性質 國外
收錄於
產學合作
通訊作者 Kim, Dong-hyeon
審稿制度
國別 英國
公開徵稿
出版型式 紙本