貿(mào)易開(kāi)放、法治環(huán)境與金融發(fā)展:69個(gè)國(guó)家面板數(shù)據(jù)的PVAR分析
發(fā)布時(shí)間:2018-10-08 20:07
【摘要】:本文基于面板向量自回歸模型運(yùn)用69個(gè)國(guó)家2000-2014年的面板數(shù)據(jù)考察了法治環(huán)境沖擊和貿(mào)易開(kāi)放沖擊對(duì)金融發(fā)展的動(dòng)態(tài)影響及這一影響在不同收入水平國(guó)家和金融危機(jī)前后的差異。研究表明,一方面,法治環(huán)境沖擊在短期內(nèi)對(duì)金融發(fā)展有正向影響,且這一影響在金融危機(jī)后更明顯。另一方面,貿(mào)易開(kāi)放對(duì)金融發(fā)展的影響與國(guó)家收入水平和金融危機(jī)影響有關(guān):高收入國(guó)家的貿(mào)易開(kāi)放積極影響金融發(fā)展;金融危機(jī)后,全球經(jīng)濟(jì)失衡尤其是國(guó)際貿(mào)易市場(chǎng)持續(xù)萎縮造成的貿(mào)易扭曲抑制了金融發(fā)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.
【作者單位】: 西南財(cái)經(jīng)大學(xué)經(jīng)濟(jì)與管理研究院;
【基金】:中央高;究蒲袠I(yè)務(wù)費(fèi)專項(xiàng)基金(JBK1407007)
【分類號(hào)】:D922.281;F746;F831
本文編號(hào):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.
【作者單位】: 西南財(cái)經(jīng)大學(xué)經(jīng)濟(jì)與管理研究院;
【基金】:中央高;究蒲袠I(yè)務(wù)費(fèi)專項(xiàng)基金(JBK1407007)
【分類號(hào)】:D922.281;F746;F831
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