Financial Reforms and International Trade

Munasib Abdul (), Devesh Roy and Chen Xing ()
Additional contact information
Munasib Abdul: Department of Agricultural & Applied Economics, University of Georgia, 213 Stuckey Building, 1109 Experiment Street, Griffin, GA 30223
Chen Xing: Former phd student, Oklahoma State University, Still Water, OK.

The B.E. Journal of Economic Analysis & Policy, 2014, vol. 14, issue 4, 1237-1281

Abstract: We provide evidence that financial reforms (over 1976–2005) significantly affected exports, in particular, of industries with higher external capital dependence and low asset tangibility. The coverage of reforms is comprehensive, encompassing the banking sector, interest rates, equity and international capital markets. Our methodology improves upon existing studies by controlling for time-varying unobserved exporter characteristics and unobserved country-specific industry characteristics. We find significant effects of various reforms with diverse impacts by intensity. Further, event studies that incorporate possible anticipated and lagged effects of commencement of reform policies confirm the findings.

Keywords: financial reforms; external capital dependence; asset tangibility; time varying unobserved heterogeneity; event study (search for similar items in EconPapers)
JEL-codes: F1 G18 G32 (search for similar items in EconPapers)
Date: 2014
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Working Paper: Financial reforms and international trade (2012)
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DOI: 10.1515/bejeap-2013-0104

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