2015•Shandong Caizheng Xueyuan xuebaoRequires access

Trade Openness and Financial Development——Based on Institutional Quality Threshold Study

Yang Aila

Abstract

Based on the provincial panel data from 1999 to 2009,the influence of trade openness on financial development is tested empirically by means of GMM estimation method. The results show that the influence of trade openness on financial development presents significant local differences,and its promoting influence on financial development mainly occurs in eastern China. For the purpose of revealing the underlying reasons,18 indexes affecting the regional institutional quality are comprehensively scored via factor analysis while the institutional quality threshold features of trade openness in promoting financial development are tested with the threshold value measured simultaneously.

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Key concepts: Openness to experience, Panel data, Quality (philosophy), China, Business, Estimation, Economics, Econometrics