金融部门发展和非洲内部贸易

IF 5.4 2区经济学 Q1 BUSINESS, FINANCE

Journal of International Financial Markets Institutions & Money Pub Date : 2025-05-13 DOI:10.1016/j.intfin.2025.102176

Lewis L. Gakpa , Issouf Soumaré , Hugues K. Kouadio , Charles K.D. Adjasi

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引用次数: 0

摘要

本文探讨了金融部门发展（FSD）与非洲内部贸易之间关系的本质。利用1998年至2021年非洲国家的现有数据样本，以及解决内生性和遗漏变量偏差的稳健估计技术，我们发现综合金融发展指标和跨境银行流动对非洲内部贸易产生了显著的积极影响。进一步分析发现，金融机构分项指标的影响比金融市场分项指标的影响更为明显。不同非洲区域经济共同体（RECs）的影响也不尽相同。最后，我们的研究结果表明，金融部门的发展通过其对服务业和工业部门的影响间接影响非洲内部贸易。

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Financial sector development and intra-African trade

This paper examines the nature of the relationship between Financial Sector Development (FSD) and intra-African trade. Using a sample of African countries with available data from 1998 to 2021, and robust estimation techniques that address endogeneity and omitted variables biases, we find a positive significant impact of the composite financial development indicator and cross-border banking flows on intra-African trade. Further analysis reveals that the effects of the financial institution sub-indicators are more pronounced than those of the financial market sub-indicators. The effects are also heterogeneous across the different African Regional Economic Communities (RECs). Finally, our results show that financial sector development affects intra-African trade indirectly through its impact on the services and industrial sectors.

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来源期刊

Journal of International Financial Markets Institutions & Money Multiple-

CiteScore

6.60

自引率

10.00%

发文量

142

期刊介绍： International trade, financing and investments, and the related cash and credit transactions, have grown at an extremely rapid pace in recent years. The international monetary system has continued to evolve to accommodate the need for foreign-currency denominated transactions and in the process has provided opportunities for its ongoing observation and study. The purpose of the Journal of International Financial Markets, Institutions & Money is to publish rigorous, original articles dealing with the international aspects of financial markets, institutions and money. Theoretical/conceptual and empirical papers providing meaningful insights into the subject areas will be considered. The following topic areas, although not exhaustive, are representative of the coverage in this Journal. • International financial markets • International securities markets • Foreign exchange markets • Eurocurrency markets • International syndications • Term structures of Eurocurrency rates • Determination of exchange rates • Information, speculation and parity • Forward rates and swaps • International payment mechanisms • International commercial banking; • International investment banking • Central bank intervention • International monetary systems • Balance of payments.