Please use this identifier to cite or link to this item: https://doi.org/10.1016/j.worlddev.2006.02.003
Title: Finance and trade: A cross-country empirical analysis on the impact of financial development and asset tangibility on international trade
Authors: Hur, J. 
Raj, M.
Riyanto, Y.E. 
Keywords: cross-country analysis
external finance dependence
financial development
property-rights protection
tangible assets
trade balance
Issue Date: Oct-2006
Source: Hur, J., Raj, M., Riyanto, Y.E. (2006-10). Finance and trade: A cross-country empirical analysis on the impact of financial development and asset tangibility on international trade. World Development 34 (10) : 1728-1741. ScholarBank@NUS Repository. https://doi.org/10.1016/j.worlddev.2006.02.003
Abstract: This paper investigates the interplay between financial development, asset tangibility, and international trade. Using industry-level data on firms' dependence on external finance and firms' asset tangibility for 27 industries in 42 countries, we find that economies with higher levels of financial development have higher export shares and trade balance in industries with more intangible assets. Using the same dataset, we also show that the interplay between property-rights protection and asset tangibility influences the pattern of trade. Higher levels of property-rights protection lead to higher export shares and trade balance in industries with more intangible assets. © 2006 Elsevier Ltd. All rights reserved.
Source Title: World Development
URI: http://scholarbank.nus.edu.sg/handle/10635/132299
ISSN: 0305750X
DOI: 10.1016/j.worlddev.2006.02.003
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