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首页> 外文期刊>Global Economy Journal >GLOBAL ECONOMIC SANCTIONS, GLOBAL BANK LINKAGES AND INFORMATION ASYMMETRY: AN EVIDENCE FROM CROSS-COUNTRY DATA
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GLOBAL ECONOMIC SANCTIONS, GLOBAL BANK LINKAGES AND INFORMATION ASYMMETRY: AN EVIDENCE FROM CROSS-COUNTRY DATA

机译:全球经济制裁,全球银行联系信息不对称:一个证据越野数据

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This paper investigates the effects of global economic sanctions (GESs) on global bank linkages (GBLs) by using 4,032 pairs of 66 countries during the 2001–2013 period. We use the structural gravity model combining with the rich database of the Global Sanction Data Base introduced by Felbermayr et al. [(2020). The global sanctions data base. European Economic Review, 129, 1–23]. Our empirical results show a negative association between the GESs and GBLs. The differential effects of GESs on the GBLsare conditional on the sanction types. Furthermore, the consequences of global sanctions become more severe for countries featuring higher information asymmetries, captured either by a high level of world uncertainty, an occurrence of crisis and shocksor by a weak institutional system. Our results are robust and reliable when we use an alternative measure of bank connections, and in the context of controlling the potential endogeneity of global sanction.
机译:探讨全球的影响经济制裁对全球银行联系(斯如是说)(gbl()通过使用4032对66个国家在2001 - 2013年期间。结构重力模型结合富人数据库全球认可的数据基础引入Felbermayr et al。(2020)。全球制裁数据基础。回顾129,1]。和gbl(的负关联斯如是说。的微分效应GBLsare斯如是说有条件批准类型。全球制裁更加的后果严重的国家具有更高的信息不对称,通过高水平的捕获发生危机和世界的不确定性shocksor制度体系薄弱。当我们使用一个结果是健壮和可靠的银行连接的替代措施,控制潜在的上下文全球认可的内生性。

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