Citation
Siong, Hook Law
(2009)
Trade openness, capital inflows and financial development in developing economies.
International Economic Journal, 23 (3).
pp. 409-426.
ISSN 1016-8737
Abstract
This paper examines the impact of trade openness and capital flows on financial development in developing countries using a dynamic panel GMM estimation technique. The empirical results reveal that trade openness and capital flows are statistically significant determinants of financial development. Simultaneous opening of both the trade and capital accounts also appear to have positive impacts on financial development. The evidence also suggests that openness leads to improved financial development through institutional quality and competition channels. However, the institutional channel outperforms competition in ensuring the positive effects of openness on financial market depth in developing countries.
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Additional Metadata
| Item Type: | Article |
|---|---|
| Subject: | Free trade - Developing countries |
| Subject: | Economic development |
| Divisions: | Faculty of Economics and Management |
| DOI Number: | https://doi.org/10.1080/10168730903268398 |
| Publisher: | Taylor & Francis |
| Keywords: | Financial development; Trade openness; Capital flows; Dynamic panel GMM analysis. |
| Depositing User: | Emelda Mohd Hamid |
| Date Deposited: | 04 Jul 2013 00:44 |
| Last Modified: | 14 May 2015 06:58 |
| Altmetrics: | http://www.altmetric.com/details.php?domain=psasir.upm.edu.my&doi=10.1080/10168730903268398 |
| URI: | http://psasir.upm.edu.my/id/eprint/17456 |
| Statistic Details: | View Download Statistic |
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