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Does Financial Development Lead to Trade Liberalization?

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Author Info
Svaleryd, Helena (Dept. of Economics, Stockholm University)
Vlachos, Jonas () (Department of Economics, Stockholm School of Economics)

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Abstract

It has long been argued that trade restrictions can be motivated by insurance considerations in the absence of full risk diversification. Recent theoretical research suggests that markets for risk can alleviate resistance to reform and protectionist lobby group pressure. We empirically address the hypothesis that institutions

reducing risk can facilitate liberal trade policy. Our results reveal a robust positive relationship between

openness to trade and the development of domestic and international financial markets.

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Publisher Info
Paper provided by Stockholm University, Department of Economics in its series Research Papers in Economics with number 2000:11.

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Length: 35 pages
Date of creation: 10 Sep 2000
Date of revision:
Handle: RePEc:hhs:sunrpe:2000_0011

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Postal: Department of Economics, Stockholm, S-106 91 Stockholm, Sweden
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Web page: http://www.ne.su.se/
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Related research
Keywords: Financial markets; Trade policy; Panel data;

Find related papers by JEL classification:
F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
G20 - Financial Economics - - Financial Institutions and Services - - - General

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    Other versions:
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