Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
989901 | World Development | 2006 | 14 Pages |
Abstract
SummaryThis 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.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Jung Hur, Manoj Raj, Yohanes E. Riyanto,