Does financial integration increase exports? Evidence from international industry-level data
Küçük Resim Yok
Tarih
2013
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
In this paper, I examine whether financially integrated countries export relatively more in industries that depend heavily on external finance. I consider three different components of financial integration: international portfolio equity investments, foreign direct investments, and external debt. The results show that, of these three components, international portfolio equity investments have the strongest and most robust effect on the sectoral composition of export flows. International portfolio equity investments increase exports relatively more in industries that depend heavily on external sources of finance. I also find that this positive effect on exports disappears when the quality of institutions is low. © 2014 M.E. Sharpe, Inc.
Açıklama
Anahtar Kelimeler
exports, external debt, FDI, financial constraints, international portfolio equity investments
Kaynak
Emerging Markets Finance and Trade
WoS Q Değeri
Q3
Scopus Q Değeri
N/A
Cilt
49
Sayı
SUPPL. 5
