Financial Development and International Trade: Is There a Link?
Thorsten Beck
Jan 2001 · World Bank Publications
Ebook
35
Pages
About this ebook
Economies with better developed financial sectors have a comparative advantage in manufacturing industries. A two-sector model shows the sector with large scale economies profiting more than the other from a well-developed financial sector. In countries with higher levels of financial development, manufactured exports represent a higher share of GDP and of merchandise exports, and those countries have a higher trade balance in manufactured goods.
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