Trade Openness and Finance: Effects of Foreign Trade with China on Latin American Financial Development

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Title:	Trade Openness and Finance: Effects of Foreign Trade with China on Latin American Financial Development
Authors:	Chen, Yu-Lung;Emile, Etzer S.
Contributors:	淡江大學財務金融學系
Keywords:	China-Latin America;financial development;foreign trade;pooled mean group estimator;trade openness
Date:	2013-07-01
Issue Date:	2013-10-09 23:32:06 (UTC+8)
Publisher:	Armonk: M.E. Sharpe, Inc.
Abstract:	Using annual data from seventeen Latin American economies observed over the period 1982-2009 and a heterogeneous panel regression based on the pooled mean group approach of Pesaran et al. (1999), this study provides evidence to support the following findings: (1) the existing trade connection between China and Latin America has had a positive and significant effect on Latin American countries' financial development since the 1990s, (2) trade openness plays a positive role in Latin American economies' financial development, and (3) the economic development of Latin American countries has a positive influence on their financial development in the long run, but have a negative effect in the short run.
Relation:	Emerging Markets Finance and Trade 49(S3), pp.110-122
DOI:	10.2753/REE1540-496X4904S308
Appears in Collections:	[Graduate Institute & Department of Banking and Finance] Journal Article

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