Foreign Direct Investment, Institutional Quality, and Financial Development along the Belt and Road: An Empirical Investigation

被引：46
|
作者：
Aibai, Abuduwali [1 ]
Huang, Xianjing [2 ,3 ]
Luo, Yu [4 ,5 ]
Peng, Yuchao [6 ,7 ]
机构：
[1] Xinjiang Univ Finance & Econ, Sch Finance, Xinjiang, Peoples R China
[2] Guangxi Univ, Business Sch, Nanning, Guangxi, Peoples R China
[3] Guangxi Univ, China ASEAN Res Inst, Nanning, Guangxi, Peoples R China
[4] Renmin Univ China, China Financial Policy Res Ctr, Sch Finance, Beijing, Peoples R China
[5] Renmin Univ China, Int Monetary Inst, Beijing, Peoples R China
[6] Cent Univ Finance & Econ, Sch Finance, 39 South Coll Rd, Beijing, Peoples R China
[7] Cent Univ Finance & Econ, Belt & Rd Finance Inst, 39 South Coll Rd, Beijing, Peoples R China
来源：
EMERGING MARKETS FINANCE AND TRADE | 2019年 / 55卷 / 14期
关键词：
FDI; financial development; financial function; institutional quality; the Belt and Road Initiative; ECONOMIC-GROWTH; TRADE OPENNESS;
D O I：
10.1080/1540496X.2018.1559139
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The source of financial development is less investigated in the literature, especially the role foreign direct investment (FDI) plays on financial development. Using data from 50 countries joining the Belt and Road Initiative, this article at first time tests the impact of FDI on financial development in a host country. Empirical results show that FDI can significantly improve the development of financial sector, especially the development of financial markets. FDI is found to be a stronger driver of financial development for countries with higher quality institutions. Moreover, FDI not only increases financial deepening, but also enhances financial function.
引用
收藏
页码：3275 / 3294
页数：20
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