贸易开放、法治环境与金融发展:69个国家面板数据的PVAR分析
发布时间：2018-10-08 20:07
【摘要】：本文基于面板向量自回归模型运用69个国家2000-2014年的面板数据考察了法治环境冲击和贸易开放冲击对金融发展的动态影响及这一影响在不同收入水平国家和金融危机前后的差异。研究表明,一方面,法治环境冲击在短期内对金融发展有正向影响,且这一影响在金融危机后更明显。另一方面,贸易开放对金融发展的影响与国家收入水平和金融危机影响有关:高收入国家的贸易开放积极影响金融发展;金融危机后,全球经济失衡尤其是国际贸易市场持续萎缩造成的贸易扭曲抑制了金融发展。
[Abstract]:Based on the panel vector autoregressive model, using panel data of 69 countries from 2000 to 2014, this paper examines the dynamic impact of environmental impact of rule of law and open trade shock on financial development and the differences between countries with different income levels and before and after the financial crisis. The research shows that, on the one hand, the impact of the legal environment has a positive impact on financial development in the short term, and this impact is more obvious after the financial crisis. On the other hand, the impact of trade liberalization on financial development is related to the level of national income and the impact of the financial crisis: trade liberalization in high-income countries has a positive impact on financial development; after the financial crisis, Global economic imbalances, especially trade distortions caused by the continued contraction of international trade markets, have stifled financial development.
【作者单位】： 西南财经大学经济与管理研究院;
【基金】：中央高校基本科研业务费专项基金(JBK1407007)
【分类号】：D922.281;F746;F831
本文编号：2258099
[Abstract]:Based on the panel vector autoregressive model, using panel data of 69 countries from 2000 to 2014, this paper examines the dynamic impact of environmental impact of rule of law and open trade shock on financial development and the differences between countries with different income levels and before and after the financial crisis. The research shows that, on the one hand, the impact of the legal environment has a positive impact on financial development in the short term, and this impact is more obvious after the financial crisis. On the other hand, the impact of trade liberalization on financial development is related to the level of national income and the impact of the financial crisis: trade liberalization in high-income countries has a positive impact on financial development; after the financial crisis, Global economic imbalances, especially trade distortions caused by the continued contraction of international trade markets, have stifled financial development.
【作者单位】： 西南财经大学经济与管理研究院;
【基金】：中央高校基本科研业务费专项基金(JBK1407007)
【分类号】：D922.281;F746;F831
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，本文编号：2258099
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