Financial Development and International Trade : Is There a Link?

The author explores a possible link between financial development and trade in manufactures. His theoretical model focuses on the role of financial intermediaries in facilitating large-scale, high-return projects. Results show that economies with b...

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Bibliographic Details
Main Author:	Beck, Thorsten
Format:	Policy Research Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2014
Subjects:	ASYMMETRIC INFORMATION AVERAGE COSTS CAPITAL STOCK CENTRAL BANK CENTRAL BANKS CLOSED ECONOMY COMPARATIVE ADVANTAGE COMPETITIVE MARKETS CONSTANT RETURNS CONSTANT RETURNS TO SCALE CONSUMERS CONSUMPTION FUNCTION CONTRACT ENFORCEMENT COUNTRY REGRESSIONS COUNTRY-SPECIFIC EFFECTS CREDIT RATIONING CURRENCY DEBT DEMAND CURVE DEMAND FUNCTIONS DEPOSITS DESCRIPTIVE STATISTICS DEVELOPMENT ECONOMICS DIFFERENTIAL PATHS DISTRIBUTION FUNCTION DYNAMIC PANEL ECONOMETRIC MODEL ECONOMETRICS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC HISTORIANS ECONOMIC REVIEW ECONOMIC STAGNATION ECONOMIC STUDIES ECONOMIC THEORY ECONOMIES OF SCALE EMPIRICAL EVIDENCE EMPIRICAL GROWTH LITERATURE EMPIRICAL LITERATURE EMPIRICAL TEST EMPLOYMENT ENDOGENOUS VARIABLE EQUILIBRIUM EXOGENOUS VARIABLE EXPECTED RETURN EXPECTED VALUE EXPLANATORY VARIABLES EXPORT SHARE EXPORT SHARES EXPORTS EXTERNAL FINANCE FACTOR ENDOWMENTS FACTOR MARKETS FINANCIAL DEVELOPMENT FINANCIAL INSTITUTIONS FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SERVICES FINANCIAL SYSTEMS FOOD PRODUCTION FOREIGN PRODUCERS GDP GROWTH PERFORMANCE GROWTH RATE HIGH CORRELATION IMPORTS INCOME INCOME LEVEL INCREASING RETURNS INCREASING RETURNS TO SCALE INSURANCE INTEREST RATE INTERNATIONAL TRADE LIQUIDITY LIQUIDITY CONSTRAINTS LONG-RUN EQUILIBRIUM LONG-RUN IMPACT MACROECONOMIC VARIABLES MACROECONOMICS MARGINAL COST MARGINAL REVENUE MONETARY ECONOMICS MONOPOLISTIC COMPETITION NATURAL RESOURCES NEGATIVE EFFECT NET EXPORTERS 0 HYPOTHESIS OPENNESS POLICY IMPLICATIONS POLICY MAKERS POLICY RESEARCH POLITICAL ECONOMY POSITIVE IMPACT PRICE ELASTICITY PRIVATE SECTOR PRODUCERS PRODUCT DIFFERENTIATION PRODUCT MARKETS PRODUCTION FUNCTION PRODUCTION TECHNOLOGY PRODUCTIVITY PRODUCTIVITY GROWTH PUBLIC POLICY REAL GDP REGRESSION RESULTS RELATIVE DEMAND RELATIVE SUPPLY RETURN ON EQUITY SAVINGS SERIAL CORRELATION SIGNIFICANT CORRELATION SPECIALIZATION TERMS OF TRADE TOTAL OUTPUT TRADE BALANCE TRADE FLOWS TRADE PATTERNS TRADE REFORMS UTILITY FUNCTION UTILITY FUNCTIONS WEALTH
Online Access:	http://documents.worldbank.org/curated/en/2001/05/1121295/financial-development-international-trade-link http://hdl.handle.net/10986/19656

Internet

http://documents.worldbank.org/curated/en/2001/05/1121295/financial-development-international-trade-link
http://hdl.handle.net/10986/19656

Financial Development and International Trade : Is There a Link?

Internet

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