Have a personal or library account? Click to login
Examining the Relationship between Financial Development and International Trade in Croatia Cover

Examining the Relationship between Financial Development and International Trade in Croatia

Open Access
|Jul 2017

References

  1. Amiti, M. and Weinstein, D. E. 2011. Exports and Financial Shocks. The Quarterly Journal of Economics 126 (4): 1841–1877.10.1093/qje/qjr033
  2. Aristovnik, A. 2008. Short-Term Determinants of Current Account Deficits: Evidence from Eastern Europe and the Former Soviet Union. Eastern European Economics 46 (1): 24-42.10.2753/EEE0012-8775460102
  3. Awojobi, O. 2013. Does Trade Openness and Financial Liberalization Foster Growth: An Empirical Study of Greek Economy. International Journal of Social Economics 40 (6): 537-555.10.1108/03068291311321848
  4. Bakker, B. B. and Gulde, A. M. 2010. The Credit Boom in the EU New Member States: Bad Luck or Bad Policies? International Monetary Fund Working Paper 10/130.10.5089/9781455201136.001
  5. Beck, T. 2003. Financial dependence and international trade: is there a link. Review of International Economics 11: 296-316.10.1111/1467-9396.00384
  6. Bilas, V. and Bošnjak, M. 2015. Examining the relationship between banking loans to private individuals growth rate and personal consumption growth rate in Croatia – the cointegration approach. Notitia – časopis za održivi razvoj 1: 19-26.
  7. Bošnjak, M., Novak, I. and Šverko, I. 2013. Macroeconomic Shocks Influence on NPL Level in Small Open Economy: Example of Croatia, paper presented at the conference. The Clute Institute International Academic Conference. Las Vegas, September.
  8. Chimobi, O. P. 2010. The causal relationship among financial development, trade openness and economic growth in Nigeria. International Journal of Economics and Finance 2 (2): 138-147.10.5539/ijef.v2n2p137
  9. Contessi, S. and de Nicola, F. 2012. What do we know about the relationship between access to finance and international trade. Federal Reserve Bank of St. Louis Working Papers 2012-054B, St. Louis: Federal Reserve Bank of St. Louis.
  10. Demir, F. and Dahi, O. S. 2011. Asymmetric effects of financial development on South–South and South–North trade: Panel data evidence from emerging markets. Journal of Development Economics 94: 139–149.10.1016/j.jdeveco.2009.12.001
  11. Dickey, D. A. and Wayne A. F. 1979. Distribution of the Estimators for Autoregressive Time Series with a Unit Root. Journal of the American Statistical Association 74 (366): 427-431.10.2307/2286348
  12. Elliott, G. 1998. On the Robustness of Cointegration Methods When Regressors Almost Have Unit Roots. Econometrica 66 (1): 149-158.10.2307/2998544
  13. Engle, R. F. and Clive W. J. G. 1987. Cointegration and Error Correction: Representation, Estimation, and Testing. Econometrica 55 (2): 251-276.10.2307/1913236
  14. Feng, L. and Lin, C. Y. 2013. Financial shocks and exports. International Review of Economics and Finance 26: 39–55.10.1016/j.iref.2012.08.007
  15. Goksel, T. 2012. Financial constraints and international trade patterns. Economic Modelling 29 (6): 2222–2225.10.1016/j.econmod.2012.06.040
  16. Goldner-Lang. I. and Perišin, T. 2011. Postupna liberalizacija kretanja roba i ljudi u Hrvatskoj i Makedoniji - prije i nakon članstva u EU. Zbornik Pravnog fakulteta u Zagrebu 61 (2): 613-642.
  17. Granger, C. W. J. 1988. Some recent developments in the concept of causality. Journal of Econometrics 39 (1-2): 199-211.10.1016/0304-4076(88)90045-0
  18. Gries, T., Kraft, M. and Meierrieks, D. 2009. Linkages between financial deepening, trade openness, and economic development: Causality evidence from Sub-Saharan Africa. World Development 37 (12):1849-1860.10.1016/j.worlddev.2009.05.008
  19. Ju, J. and Shang-Jin, W. 2011. When is quality of financial system a source of comparative advantage?. Journal of International Economics 84 (2): 178–187.10.1016/j.jinteco.2011.03.004
  20. Kar, M., Saaban, N. and Huseyin, A. 2013. Trade Openness, Financial Development, and Economic Growth in Turkey: Linear and Nonlinear Causality Analysis. Paper presented at the International Conference on Eurasian Economies, St. Petersburg, September.10.36880/C04.00695
  21. Kiendrebeogo, Y. 2012. Understanding the Causal Links between Financial Development and International Trade. Series Etudes et Documents Du Cerdi, No. 34, Clermont Ferrand: CERDI.
  22. Kim, D. H., Lin, S. C. and Suen, Y. B. 2010. Dynamic effects of trade openness on financial development. Economic Modelling 27 (1): 254–261.10.1016/j.econmod.2009.09.005
  23. Kletzer, K. and Pranab. B. 1987. Credit markets and patterns of international trade. Journal of Development Economics 27 (1-2): 57-70.10.1016/0304-3878(87)90006-X
  24. Korhan K. G., Amina, M. Y. and Taspinara, N. 2015. The Relationship among International Trade, Financial Development and Economic Growth: The Case of Pakistan. Procedia Economics and Finance 25: 489 – 49610.1016/S2212-5671(15)00761-3
  25. Kwiatkowski, D., Phillips, P. C. B., Schmidt, P. and Yongcheol S. 1992. Testing the null hypothesis stationarity against the alternative of a unit root: How sure are we that economic time series have a unit root? Journal of Econometrics 54: 159-178.10.1016/0304-4076(92)90104-Y
  26. Mance, D., Žiković, S. and Mance, D. 2015. Econometric Analysis of Croatia’s Proclaimed Foreign Exchange Rate. South East European Journal of Economics and Business 10 (1): 7-17.10.1515/jeb-2015-0001
  27. Manova, K. 2013. Credit Constraints, Heterogeneous Firms, and International Trade. Review of Economic Studies 80: 711–744.
  28. Manova, K. and Fritz, F. C. 2015. International trade, multinational activity, and corporate finance. Annual Review of Economics 7: 119–146.
  29. Mishkin, F. S. 2009. Globalization and financial development. Journal of Development Economics 89 (2): 164–169.10.1016/j.jdeveco.2007.11.004
  30. Obadić, A., Globan, T. and Nadoveza, O. 2014. Contradicting the Twin Deficits Hypothesis: The Role of Tax Revenues Composition. Panoeconomicus 6: 653-667.10.2298/PAN1406653O
  31. Omran, M. and Bolbol, A. 2003. Foreign direct investment, financial development, and economic growth: evidence from the Arab countries. Review of Middle East Economics and Finance. 1 (3): 233-251.
  32. Pesaran, H. and Shin, Y. 1995. An Autoregressive Distributed Lag Modelling Approach to Cointegration Analysis. Paper presented at the conference The Ragner Frisch Centennial Symposium, Cambridge.
  33. Pesaran, H., Shin, Y. and Smith, R-J. 2001. Bounds Testing Approaches to the Analysis of Level Relationships. Journal of Applied Econometrics 16 (3): 289-326.10.1002/jae.616
  34. Phillips, P. C. B. and Perron, P. 1988. Testing for a Unit Root in Time Series Regression. Biometrika 75 (2): 335-346.10.1093/biomet/75.2.335
  35. Rajan, R. G. and Zingales, L. 1998. Financial development and growth. American Economic Review 88 (3): 559-586.
  36. Samba, M. C. and Yan, Y. 2009. Financial Development and International Trade in Manufactures: An Evaluation of the Relation in Some Selected Asian Countries. International Journal of Business and Management 4 (12): 52-69.10.5539/ijbm.v4n12p52
  37. Shahbaz, M. and Rahman, M. M. 2012. The dynamic of financial development, imports, foreign direct investment and economic growth: cointegration and causality analysis in Pakistan. Global Business Review 13 (2): 201-219.10.1177/097215091201300202
  38. Shaheen, S., Awan, M. S., Waqas, M. and Aslam, M. A. 2011. Financial development, international trade and economic growth: empirical evidence from Pakistan. Romanian Journal of Fiscal Policy 2 (2): 11-19.
  39. Susanto, D., C., Rosson. P. and Costa, R. 2011. Financial Development and International Trade: Regional and Sectoral Analysis. Agricultural & Applied Economics Association 2011 AAEA & NAREA Joint Annual Meeting, Pittsburgh, Pennsylvania.
  40. Svaleryd, H. and Vlachos, V. 2005. Financial markets, the pattern of industrial specialization and comparative advantage: evidence from OECD countries. European Economic Review 49 (1): 113-144.10.1016/S0014-2921(03)00030-8
  41. Zakharova, D. 2008. One-Size-Fits-One: Tailor-Made Fiscal Responses to Capital Flows. International Monetary Fund.10.2139/ssrn.1316737
Language: English
Page range: 80 - 88
Published on: Jul 6, 2017
Published by: University of Sarajevo
In partnership with: Paradigm Publishing Services
Publication frequency: 2 issues per year

© 2017 Vlatka Bilas, Mile Bosnjak, Ivan Novak, published by University of Sarajevo
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.