Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/259249 
Erscheinungsjahr: 
2020
Quellenangabe: 
[Journal:] Comparative Economic Research. Central and Eastern Europe [ISSN:] 2082-6737 [Volume:] 23 [Issue:] 4 [Publisher:] Łódź University Press [Place:] Łódź [Year:] 2020 [Pages:] 69-86
Verlag: 
Łódź University Press, Łódź
Zusammenfassung: 
The study investigates the influence of financial development on foreign trade in transi- tional economies using panel data (1994-2014). Although empirical studies on the im- pact of financial development on foreign trade are available, none of them that the au- thors are aware of attempted to explore the subject matter in the context oftransitional economies. None attempted to investigate if human capital development is a channel through which financial development influences foreign trade or international trade. Under fixed effects, financial development was found to have a non-significant posi- tive influence on foreign trade, while the random effects approach shows a significant positive relationship running from financial development towards foreign trade. The findings resonate with the majority of the literature on the subject. However, pooled ordinary least squares (OLS) shows that financial development had a significant nega- tive influence on foreign trade. Under both fixed and random effects, human capital development was found to be a channel through which financial development had a significant positive effect on foreign trade. The results are in line with Patrick's (1966) argument that foreign trade is quickened by high levels of human capital and financial development. The implication of the study is that transitional authorities should develop and implement human capital development enhancement policies in order to enable financial de- velopment to have a significant positive effect on foreign trade. In contrast to the available literature, human capital development was found to have had a significant negative impact on foreign trade under the OLS approach. Future studies on the sub- ject matter should address the endogeneity concerns and the dynamic characteristics of the foreign trade data.
Schlagwörter: 
Financial Development
Foreign trade
Transitional Economies
Panel Data
JEL: 
G15
J24
P45
P2
Persistent Identifier der Erstveröffentlichung: 
Creative-Commons-Lizenz: 
cc-by-nc-nd Logo
Dokumentart: 
Article

Datei(en):
Datei
Größe
482.22 kB





Publikationen in EconStor sind urheberrechtlich geschützt.