ISSN:
1466-4291
Content:
Using a dynamic panel threshold model, we find a nonlinear effect of financial development on participation in the global value chains for 92 countries. The effect is positive below a threshold and turns negative above it. We provide evidence supporting our explanation that when a country’s financial system develops to a certain level, it serves foreign buyers by engaging more in outward foreign direct investments instead of enhancing its participation in the global value chains.
In:
Applied economics letters, New York, NY : Routledge, 1994, 29(2022), 16, Seite 1504-1508, 1466-4291
In:
volume:29
In:
year:2022
In:
number:16
In:
pages:1504-1508
Language:
English
Keywords:
Aufsatz in Zeitschrift
DOI:
10.1080/13504851.2021.1940081