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Pré-publication, Document de travail Année : 2012

The Effects of Financial Development on Trade Performance and the Role of Institutions

Résumé

This paper aims to address the empirical question of whether a country's level of manufacturing trade is affected by its financial sector development and to investigate the role of institutions in this relationship. Countries endowed with better-developed financial systems tend to specialize in industries that rely on ex- ternal fi nance in production. This e ffect is likely to be stronger in countries with high-quality institutions. Using pure cross-sectional and panel speci fications on a sample of 75 countries over the period 1971-2010, we find that financial development strongly and robustly exerts a positive eff ect on manufacturing exports, even after controlling for the eff ect of banking crises. Furthermore, institutional quality is found to have a favorable eff ect on the extent to which finance influences manufacturing trade, suggesting a multiplicity of experiences of the largest exporters of manufactured goods.
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Dates et versions

halshs-00748544, version 1 (05-11-2012)

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  • HAL Id : halshs-00748544 , version 1

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Youssouf Kiendrebeogo. The Effects of Financial Development on Trade Performance and the Role of Institutions. 2012. ⟨halshs-00748544⟩
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Dernière date de mise à jour le 16/06/2024
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