How does terms-of-trade behavior shape international financial integration in primary-commodity exporting economies?

Almukhtar Saif Al-Abri*

*المؤلف المقابل لهذا العمل

نتاج البحث: المساهمة في مجلةمقالمراجعة النظراء

1 اقتباس (Scopus)

ملخص

This paper presents empirical evidence suggesting that the volatility, trend-growth, and shock-duration of terms-of-trade (TOT) are important drivers of the degree and composition of international financial integration (IFI). Our results are based on a panel of 55 primary-commodity exporting countries during 1980-2007. The findings reveal that TOT trend-growth has larger impact on IFI compared to TOT volatility. Also, higher TOT volatility is robustly associated with greater cross-holdings of foreign assets and lower cross-holdings of foreign liabilities. Another notable finding is that longer duration of TOT shocks seems to shift IFI towards equity assets.

اللغة الأصليةEnglish
الصفحات (من إلى)335-353
عدد الصفحات19
دوريةJournal of International Financial Markets, Institutions and Money
مستوى الصوت33
المعرِّفات الرقمية للأشياء
حالة النشرPublished - ديسمبر 1 2014

ASJC Scopus subject areas

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