恐怖活动对国际金融服务贸易的影响:金融机构的发展是否重要?

IF 2.6 3区 经济学 Q2 BUSINESS, FINANCE
World Economy Pub Date : 2024-01-04 DOI:10.1111/twec.13549
Cong S. Pham, Hoa Nguyen
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引用次数: 0

摘要

我们研究了恐怖活动对国际金融服务贸易的影响,以及金融机构在缓解这种影响方面的作用。以 2000 年至 2020 年的 67 个国家为样本,我们发现,进口国和/或出口国的恐怖事件数量每增加 10%,其双边金融服务贸易平均每年就会减少 1.77%-2.05%,这比商品贸易的记录更具经济意义。然而,金融服务的主要出口国和进口国受恐怖主义事件的影响较小。我们进一步发现,金融机构的稳定性(以 Z 值衡量)是减轻恐怖主义对贸易不利影响的最有力因素,这证实了系统稳定性的重要作用。还有一些有限的证据表明,金融机构效率更高(以管理费用与总资产之比衡量)的出口国应对恐怖主义的能力更强。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Impact of terror on international trade in financial services: Does the development of financial institutions matter?
We examine the impact of terror on international trade in financial services and the role of financial institutions in alleviating this impact. Using a sample of 67 countries from 2000 to 2020, we find that a 10% increase in the number of terrorist incidents in the importer and/or the exporter results, on average, in a 1.77–2.05% annual reduction in their bilateral financial service trade which is more economically significant than what has been documented for trade in commodities. Top exporters and importers of financial services, however, are less affected by the incidence of terrorism. Confirming the critically important role of systemic stability, we further find that financial institutions' stability (measured by the Z score) is the most powerful factor in mitigating the detrimental impact of terrorism on trade. There is also some limited evidence that exporting countries where financial institutions exhibit more efficiency (measured as the ratio of overhead costs to total assets) cope better with terrorism.
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来源期刊
World Economy
World Economy Multiple-
CiteScore
4.50
自引率
8.00%
发文量
124
期刊介绍: The World Economy is a vital resource for researchers, analysts and policy-advisors interested in trade policy and other open economy issues embracing international trade and the environment, international finance, and trade and development. The journal also considers related areas such as economies in transition and development economics, making The World Economy an essential reference for in-depth knowledge on and up-to-date coverage of international economic relations.
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