Dynamic Effects of Trade Openness on Financial Development
學年 98
學期 1
出版(發表)日期 2010-01-01
作品名稱 Dynamic Effects of Trade Openness on Financial Development
著者 Kim, Dong-hyeon; Lin, Shu-chin; Suen, Yu-bo
單位 淡江大學經濟學系
出版者 Amsterdam: Elsevier BV * North-Holland
著錄名稱、卷期、頁數 Economic Modelling 27(1), pp. 254-261
摘要 This paper employs the Pooled Mean Group (PMG) approach of Pesaran et al. (1999) to study the dynamic effects of trade openness on financial development. The advantage of the PMG estimator over other dynamic panel econometric techniques is that it allows short-run coefficients, speeds of adjustment and error variances to vary across countries, with cross-country homogeneity restrictions only on long-run parameters. Our results spanning 88 countries over 1960–2005 show that a positive long-run relationship between trade openness and financial development coexists with a negative short-run relationship. But when splitting the data into different income or inflation groups, this finding is observed only in relatively low-income countries or high-inflation economies.
關鍵字 Financial development; Trade openness; Pooled Mean Group estimator
語言 en
ISSN 0264-9993
期刊性質 國外
收錄於 SSCI
通訊作者 Lin, Shu-chin
國別 NLD
出版型式 紙本

機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/66332 )