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The impact of trade and financial openness on bank loan pricing: Evidence from emerging economies

机译:贸易和金融开放对银行贷款定价的影响:新兴经济体的证据

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摘要

In this paper, we examine the impact of trade and financial openness on bank loan pricing. Using data from 35 emerging economies, we first document that higher trade and financial openness lower interest rates on gross bank loans using country-specific measures for trade and financial openness. We then confirm our findings using firm-specific measures for trade and financial openness and individual loan spread. Exploiting the accession to World Trade Organization (WTO) as a quasi-natural experiment, we observe loan interest rates declined in countries after joining the WTO. Overall, we imply that openness is beneficial for financial development in emerging economies.
机译:在本文中,我们研究了贸易和金融开放对银行贷款定价的影响。 利用来自35个新兴经济体的数据,我们首先将更多的贸易和金融开放性降低利用国家贸易和金融开放措施的总体银行贷款利率。 然后,我们使用特定的贸易和金融开放和个人贷款措施确认我们的调查结果。 利用加入世界贸易组织(WTO)作为准自然实验,我们在加入WTO后遵守贷款利率下降。 总体而言,我们暗示开放对新兴经济体的金融发展有益。

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