| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11821 |
| DP11821 The Role of Foreign Banks in Trade | |
| Stijn Claessens; Neeltje van Horen | |
| 发表日期 | 2017-02-02 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | This paper provides new insights into how financial globalization relates to international trade. Exploiting unique, time-varying, bilateral data on foreign bank ownership for many countries, we show that greater local foreign bank presence, especially from the importing country, is associated with higher exports in sectors more dependent on external finance. The association, which only arises for emerging markets, is stronger when these countries’ institutions are weaker. The presence of a bank from the importing country is also associated with higher exports in sectors with more opaque products. Results are robust to controlling for domestic financial development and a full set of fixed effects. An event study confirms findings and shows impacts to be more pronounced when a foreign bank enters through an M&A. Imports also increase after entry, but less so. Overall, results suggest that foreign banks facilitate trade by increasing the availability of external finance and helping overcome information asymmetries. |
| 主题 | Financial Economics ; International Trade and Regional Economics |
| 关键词 | Foreign banks International trade Credit constraints Financial development |
| URL | https://cepr.org/publications/dp11821 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/540634 |
| 推荐引用方式 GB/T 7714 | Stijn Claessens,Neeltje van Horen. DP11821 The Role of Foreign Banks in Trade. 2017. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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