Finance in a More Globalized Economy

Shu-Chin Lin and Yi-Chen Wu

Emerging Markets Finance and Trade, 2023, vol. 59, issue 13, 3900-3914

Abstract: This paper empirically examines whether globalization affects the level, volatility and structure of financial development as well as the competition and credit composition of the banking sector. Using dynamic panel estimation techniques, we find, in a sample of advanced and developing countries, that both trade and financial openness promote financial development, raise financial volatility, and result in a more market-based financial system, the effects that moderate with increased openness. It is also found that both trade and financial openness lead to a more competitive, less concentrated banking industry and a greater share of household credit relative to enterprise credit, the effects that dampen with increased openness.

Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/1540496X.2022.2128749 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mes:emfitr:v:59:y:2023:i:13:p:3900-3914

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/MREE20

DOI: 10.1080/1540496X.2022.2128749

Access Statistics for this article

More articles in Emerging Markets Finance and Trade from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().