金融发展与国际贸易互动机理的研究进展

Foreign Literature Review on the Mechanism of Interaction between Financial Development and International Trade

金融发展与国际贸易的互动机理是一个比较前沿的研究领域,国外学者从融资成本与贸易结构、货币流动性与贸易融资、金融抑制与贸易扭曲等不同侧面进行了较为深入和具体的研究,并得出金融部门的融资成本差异会引起贸易结构差异;货币流动性在金融依赖程度较高的产业部门会显著影响其贸易融资;汇率波动会对贸易规模产生影响;金融开放与贸易开放密切相关;完善金融风险分散机制有利消除贸易障碍;金融抑制会扭曲国际贸易等结论。未来的研究应包括不完善的信贷市场如何影响贸易流向等多个方面。

Study on the mechanism of interaction between financial development and international trade is a cutting-edged research area. Foreign scholars have made a thorough and specific study on it from different aspects： such as financing costs and trade structure, monetary liquidity and trade financing, financial re- straint and trade distortions and so on. They conclude that ： firstly, the difference of the financial sector＇s fi- nancing costs will cause differences in trade structure; secondly, the monetary liquidity in the more highly dependent industrial sectors will significantly affect the trade financing; thirdly, fluctuations of foreign ex- change rate will have an impact on the trade scale; fourthly, the financial openness is closely related to the trade liberalization; the improvement of financial risk diversification mechanism will favorably eliminate the trade barrier; lastly, the financial restraint will distort the international trade. The future studies should include the problem of how the imperfect credit markets would affect trade flows and so on.