| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17024 |
| 来源ID | Working Paper 17024 |
| Historical Evidence on the Finance-Trade-Growth Nexus | |
| Michael D. Bordo; Peter L. Rousseau | |
| 发表日期 | 2011-05-05 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | We study linkages between financial development, international trade, and long-run growth using data since 1880 for seventeen now-developed "Atlantic" economies and a set of cross-country and dynamic panel data models. We find that finance and trade reinforced each other before 1930, but that these effects did not persist after the Second World War. Financial development has positive effects on growth throughout the sample period, while trade affects growth strongly and independently after 1945. We attribute the rising importance of trade in explaining growth to major post-World War II changes in tariffs and quantity restrictions associated with the GATT, the establishment of the European Common Market, and the gradual elimination of capital controls after 1973. The findings are robust to the use of 'deep' fundamentals such as legal origin and indicators of the political environment as instruments for financial development and trade. Financial development, however, is more closely linked to these fundamentals than trade. |
| 主题 | Macroeconomics ; Money and Interest Rates ; International Economics ; Trade ; History ; Macroeconomic History ; Financial History |
| URL | https://www.nber.org/papers/w17024 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574698 |
| 推荐引用方式 GB/T 7714 | Michael D. Bordo,Peter L. Rousseau. Historical Evidence on the Finance-Trade-Growth Nexus. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17024.pdf（138KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
