论文部分内容阅读
本文考察了金融发展水平对工业制成品贸易比较优势的影响。理论分析表明较高的金融发展水平通过降低工业制成品生产企业的融资成本,使得工业制成品贸易具有比较优势。经验分析采用了Balassa显性比较优势指数、净出口率以及Michaely指数3类指标来度量中国区域工业制成品比较优势,同时采用4类金融发展指标分别刻画区域金融发展的规模、效率以及贷款期限结构等不同特征。估计结果表明,金融发展水平是影响工业制成品比较优势的重要变量,同时不同的金融发展度量指标对国际贸易的影响存在显著差异。
This article examines the impact of the level of financial development on the comparative advantage of trade in manufactured goods. Theoretical analysis shows that a higher level of financial development makes manufacturing trade with comparative advantages by reducing the financing cost of industrial products manufacturing enterprises. Empirical analysis uses Balassa’s dominant comparative advantage index, net export rate and Michaely index to measure the comparative advantage of industrial products in China. Four types of financial indicators are used to characterize the scale, efficiency and loan maturity of regional financial development respectively Structure and other different characteristics. The estimation results show that the level of financial development is an important variable that affects the comparative advantage of manufactured goods, and there are significant differences in the impact of different financial development measures on international trade.