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دسته بندی:
بانکداری - Banking
سال انتشار:
2017
عنوان انگلیسی مقاله:
Do trade and financial openness matter for financial development? Bank-level evidence from emerging market economies
ترجمه فارسی عنوان مقاله:
آیا بازاریابی باز تجاری و مالی برای توسعه مالی اهمیت دارد؟ شواهد در سطح بانکی در اقتصادهای نوظهور بازار
منبع:
Sciencedirect - Elsevier - Research in International Business and Finance,Corrected proof,doi:10.1016/j.ribaf.2017.07.115
نویسنده:
Badar Nadeem Ashrafa,b,⁎
چکیده انگلیسی:
Openness theory of financial development argues that opening up a country to both international
trade and financial flows can promote financial development. In this study, I test the openness
theory at micro-level by examining the impact of recent rapid trade and financial openness of
emerging economies on their banks’ development. I use three sets of indicators of bank devel
opment to distinguish the cost, volume and risk of bank credit. Using a panel dataset of 287 key
banks from 37 emerging countries over the period 2000–2012, I find robust evidence that higher
trade openness promotes bank development by increasing the volume and decreasing the cost
and risk of bank credit. I identify that these results are driven, respectively, by the higher demand
for finance, the domestic financial sector liberalization reforms and the lending diversification
opportunities caused by the higher trade-openness. Contrary, I find that the role of financial
openness for bank development is limited because though the intense credit market competition
caused by the capital inflows in financially open countries urges the banks to cut the cost of
credit, however it also forces them to increase risk-taking despite the lower volume of credit
extended. In such a scenario, the costs associated with higher bank risk-taking might outweigh
the benefits associated with the lower cost of bank credit.
Keywords: Trade openness | Financial openness | Bank risk-taking | Bank net interest margins | Bank lending
قیمت: رایگان
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