我国金融发展与对外贸易关系的区域比较

本文以东中西部1985年-2012年的金融发展和对外贸易相关数据为样本,在建立VAR模型的基础上,采用协整检验、脉冲响应及方差分解对东中西部金融发展与对外贸易的内在联系进行了实证检验。结果证明:我国东中西部的对外贸易与金融发展间存在长期稳定的均衡关系,东部地区金融效率的提高更有利于对外贸易的发展;中部地区金融发展能促进外贸发展,但力度不如东部地区;西部地区金融发展未能有效促进对外贸易的发展。     

对我国各地区对外开放度适宜性的实证分析

本文采用两阶段最小二乘估计的方法,根据开放度与市场规模在对经济增长影响上的替代性理论,对我国各地区对外开放度的适宜性进行了实证分析,通过计算得出结论,上海、北京和广东等地区的贸易开放度已经偏高了,这些地区对外贸易的增长速度不应继续高于经济增长的速度,应维持或减小开放度;而其他地区的开放度离临界开放度尚远,可以继续通过提高对外开放度的方式促进经济增长。     

中国金融开放度研究

本文运用详实的统计数据,从资本市场的开放度和货币市场的开放度两个层面探讨了我国的金融开放度的测算问题,对现有衡量金融开放度的模型进行了修正,提出了我国金融开放度的衡量指标。最后,为验证本文的研究结论,文章对资本市场模型进行了相关性检验与分析。     

金融发展与贸易开放度关联性的实证分析——基于浙江省1994—2009年数据

利用浙江省1994—2009年的时间序列数据,运用协整分析和Granger因果检验,对浙江省金融发展与贸易开放度之间的关联性进行实证分析。结果显示,浙江省金融发展规模指标与贸易开放度互为协整关系,同时,金融发展规模指标是贸易开放度的Granger原因,反之则不成立。而金融发展效率指标与贸易开放度不具有协整关系,但是金融发展效率指标是贸易开放度的Granger原因。因此金融体制改革是实现浙江省贸易开放度可持续发展的必要条件。     

高质量发展视角下中国对外贸易发展质量研究

习近平总书记在党的十九大报告中明确指出。“我国经济已由高速增长阶段转向高质量发展阶段”。对外贸易的高质量发展不仅是经济高质量发展的内在需要，也是构建贸易强国的要求。本文应用灰色关联度对我国的对外贸易发展质量进行了实证分析，结果显示我国的对外贸易发展质量逐年提高，其中，研发投入、外贸效益、中西部外贸占比、服务贸易、民营企业外贸占比对我国对外贸易发展质量有显著的影响。为了进一步提高我国外贸发展质量，应注重研发，提高产品质量，提升外贸效益；提升中西部地区在外贸中的地位；以数字经济为依托，大力发展服务贸易；改善民营企业生存环境，提升民营企业的活力。     

中国加工贸易产业升级影响因素实证研究

在理论分析的基础上,选取1997--2009年江苏、上海、浙江、广东、北京、天津、山东、福建八个省、市的面板数据作为样本,选择地区研发能力、外商直接投资、产业基础、劳动力投入、劳动力禀赋和对外贸易开放度共6个解释变量构建计量模型,实证分析了我国加工贸易转型升级的影响因素,得出我国加工贸易升级的内在促进机制还不成熟,研发投入、技术创新等因素的促进作用有限,过高的贸易开放度制约了我国加工贸易的发展的结论。     

数字普惠金融、信贷供给与居民消费

提升居民消费是促进国内大循环的重要途径。文章探讨了数字普惠金融对居民消费的影响及其作用机制，研究发现：（1）数字普惠金融的发展有效提升了我国居民消费水平。（2）机制分析发现，数字普惠金融可以通过提高信贷供给进而赋能居民消费增长。（3）异质性分析表明，数字普惠金融对金融环境较好、经济增速较快、消费水平较高地区的消费提升效应更强。从金融供给端来看，信贷供给也是数字普惠金融覆盖广度和使用深度影响居民消费过程中的重要传导路径，但基于数字化程度的研究结果表明尚存“数字鸿沟”问题；从消费需求端来看，数字普惠金融通过提高信贷供给主要促进了农村生存型消费及城镇生存型、发展型消费。     

数字经济如何促进对外贸易高质量发展

数字经济与对外贸易深度融合已成为推动经济高质量发展的重要动能。利用2010～2020年我国省际面板数据，实证分析数字经济对东、中、西部地区对外贸易高质量发展的影响机制及升级的实现条件、空间溢出效应。研究发现：(1)数字经济发展水平的提升对对外贸易高质量发展具有显著的正向空间溢出效应；(2)从中观层面看，人力资本、产业升级和创新产出是数字经济有效作用于对外贸易高质量发展的主要传导路径，且存在地区异质性；从宏观层面看，人民币汇率、人均GDP和政策支持是数字经济作用于对外贸易高质量发展的重要机制；(3)数字经济提升对对外贸易高质量发展的作用机制，随着地区专利申请授权量与人力资本提升呈“边际效应递减”,随着互联网端口接入数量的增加呈“边际效应递增”,促进企业的技术创新与人力资本提升是数字经济驱动对外贸易高质量发展的长效作用机制；(4)数字经济与对外贸易高质量发展具有显著的空间正相关性，本地数字经济的发展也有利于周边地区对外贸易的高质量发展。     

中国与发展中国家之间的经济摩擦分析

目前，我国与发展中国家之间的经济摩擦急剧增加，发展中国家已经成为我国经济摩擦的主体。我国与发展中国家之间的经济摩擦，不仅增加了全球经济的不稳定性，而且还严重影响了我国对外经济的发展。因此，为了缓解与发展中国家之间的经济摩擦，我国应该注意四个方面的问题：（1）加强与发展中国家之间的经济合作与协调；（2）改变我国现行的对外贸易政策；（3）发挥行业协会的作用规范出口制度；（4）积极鼓励我国企业到发展中国家进行直接投资。     

海南对外贸易与经济增长的关系研究

文章的研究目的在于分析我国海南地区对外贸易与经济增长的关系，主要利用依存度对我国海南地区对外贸易与经济增长的历史发展整体状况进行了描述分析。研究表明海南地区对外贸易对经济增长有着重要贡献，但海南历史上经济增长并不完全依托对外贸易，且海南地区进口贸易对经济的促进作用大于出口贸易的作用。     

The impact of trade and financial openness on bank loan pricing: Evidence from emerging economies

In this paper, we examine the impact of trade and financial openness on bank loan pricing. Using data from 35 emerging economies, we first document that higher trade and financial openness lower interest rates on gross bank loans using country-specific measures for trade and financial openness. We then confirm our findings using firm-specific measures for trade and financial openness and individual loan spread. Exploiting the accession to World Trade Organization (WTO) as a quasi-natural experiment, we observe loan interest rates declined in countries after joining the WTO. Overall, we imply that openness is beneficial for financial development in emerging economies.     

The Impact of Trade Openness on Regional Inequality: The Cases of India and Brazil

Regional inequalities are large in India and Brazil and represent a development challenge. This article aims to determine whether regional inequalities are linked to a country's trade openness. An annual indicator of regional inequalities is constructed for India for the period 1980–2004 and for Brazil from 1985–2004. Results from time series regressions show that Brazil's trade openness contributes to a reduction in regional inequalities. The opposite result is found for India. India's trade openness is an important factor aggravating income inequality among Indian states. In both countries, inflows of foreign direct investment are found to increase regional inequalities.     

Dynamic openness and finance in Africa

This study assesses dynamics of openness and finance in Africa by integrating financial development dynamics of depth, activity and size in the assessment of how financial, trade, institutional, political and other openness policies (of second generation structural and institutional reforms) have affected financial development. The empirical evidence is based on Generalized Method of Moments with data from 28 African countries for the period 1996–2010. The following findings are established. (1) While the de jure (KAOPEN) indicator of financial openness improves financial depth, the de facto (FDI) measurement decreases it, with the effect of the latter measure positive on financial size. (2) Whereas trade openness improves financial depth, its effect on financial activity and size is negative. (3) Institutional openness has a positive effect on financial dynamics of depth and activity, while its effect on financial size is negative. (4) Political openness and economic freedom are detrimental to financial depth and activity. Justifications for these nexuses are discussed.     

Trade openness,foreign direct investment,and finance-growth nexus in the Eurozone countries

The paper investigates causal relationships between trade openness, foreign direct investment, financial development, and economic growth in 19 Eurozone countries over the period 1988–2013. Using a panel vector error-correction model (VECM), the empirical results show that these variables are cointegrated. The study shows that a combination of opening the Eurozone countries for trade and fostering their financial and economic development have elevated inflows of foreign direct investment into the region in the long run. At the same time, increasing inflows of foreign direct investment in the short run have propelled economic growth, which in return has strengthened the role of financial development and international trade to sustain economic growth in the region through feedback effects. The empirical results have important policy implications for countries in the Eurozone, especially those who face challenges as a result of lack of confidence in their financial system and those who face a sovereign debt crisis.     

The interest group theory of financial development in China: Openness and the role of interest groups

The interest group theory of financial development predicts that the incumbents' opposition to financial development will be weaker when an economy is open to both trade and capital flows. Based on regressions of financial development on trade and financial openness, existing studies only provide indirect tests of the hypothesis and deliver mixed findings. This paper proposes models for direct tests of interest group theory for China. Using Chinese cross-province data, we define and measure interest groups based on the close tie between state-owned enterprises and local government in China. The empirical results show that the opposition from interest groups to financial development cannot be weakened in provinces with high trade or financial openness alone. However, the opposition is indeed weakened in provinces with high levels of both trade and financial openness. These results provide robust support for interest group theory in accounting for cross-province differences and time-series variation in financial development in China.     

The ‘amelioration’ of child labor, ‘a modest proposal’

More than 317 million children between the age of 5 and 17 are working in the world. Child labor is a persistent phenomenon, even though its incidence has subsided with economic development. In this paper, we conduct a panel study of 101 countries from 1980 to 2004 where child labor is proxied by the labor force participation of children aged 10–14. We look at the relationships between child labor and investments in human capital, foreign direct investments, countries’ openness to trade, and credit market constraints. We depart from the contributions of cross-country studies by employing a fixed effects instrumental variable (FE-IV) panel data model by employing a fixed effects instrumental variable (FE-IV) panel data model to account for unobserved heterogeneity and endogeneity of child labor and individual country-specific effects. We find support for the conclusions of the above-mentioned studies: countries that trade more and have a higher stock of foreign direct investment have less child labor. More generally, we find that trade openness, investments in human capital, and financial development are associated with a reduction of child labor. Child labor persists but tailored policies on trade, investment, and financial reform can lessen child labor along with economic growth, improvements in health, and rising standards of living.     

我国对外贸易的区域格局及其波动特征探讨

改革开放以来,全国和各区域对外贸易以及外贸依存度均呈高速的增长态势,对外贸易增长速度均超过了自身的GDP增长速度;然而从区域特征或是从区域差异的角度考察,全国对外贸易的基本特征是极度不平衡的,尤其是对外贸易总量与增长位势的区域差异更甚于经济规模和经济增长速度的区域差距。此外,经济对外开放程度越低的地区对外贸易波动的强度越大、进出口贸易越不平衡这两点也构成了我国对外贸易的区域格局变化和波动的重要特征。     

提高黑龙江省外贸竞争力的研究

为实现黑龙江老工业基地的振兴,应全面提升经济的开放度和区域外贸竞争力。外贸对拉动全省地区生产总值,促进地区经济增长有重大作用。本文通过分析黑龙江省外贸竞争力的优势与存在的问题,提出了提升黑龙江省外贸竞争力的对策。     

FDI、金融发展与地区经济差异

本文利用中国29个省份1987~2007年的面板数据,考察了金融市场发展在推动FDI促进经济增长中的作用,以及这种作用在各个地区之间的差异。实证结果显示：在全国范围内,金融发展本身虽能促进经济的增长,但是其水平还未达到推动FDI促进经济增长的要求。在东部地区,金融市场对FDI经济增长效应产生了显著的促进作用,而在中、西部地区金融发展却没有成为推动FDI促进经济增长的良性机制。文章还同时分析了国内投资、人力资本投资、贸易开放度以及政府支出等变量对地区经济增长的影响。最后,在实证分析的基础上提出了若干政策建议。     

Demand-following or supply-leading? Trade openness and financial development in China

This study explores the causal relationship between financial development and trade openness in China, using the research methodology namely bootstrap Granger full-sample causality test and sub-sample rolling-window estimation. The results reveal that there is a significant bidirectional relationship between financial development and trade openness in China, pointing out the existence of both ‘demand-following’ and ‘supply-leading’ hypotheses. Furthermore, their relationship fits well the fact that China has experienced economic restructuring and structural changes in the past few decades. As financial development improves trade openness robustly, the Chinese policymakers should further increase financial reform to promote trade development.