Financial Constraints, the Distribution of Wealth and International Trade

Emmanuel Amissah, Spiros Bougheas, Rod Falvey

Research output: Contribution to journalArticleResearchpeer-review

1 Citation (Scopus)

Abstract

We develop a simple theoretical model to examine the impact of the distribution of wealth on the patterns of trade when capital markets are imperfect. Our model predicts that the dispersion of wealth can be a determinant of comparative advantage for low income countries with poor financial institutions. We find support for these prediction using export and financial panel data from a large sample of countries.

Original languageEnglish
Pages (from-to)707-724
Number of pages18
JournalWorld Economy
Volume34
Issue number5
DOIs
Publication statusPublished - May 2011

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distribution of wealth
world trade
capital market
low income
determinants
Capital markets
International trade
Wealth
Financial institutions
Prediction
Pattern of trade
Distribution of wealth
Low-income countries
Panel data
Comparative advantage
Financial constraints

Cite this

Amissah, Emmanuel ; Bougheas, Spiros ; Falvey, Rod. / Financial Constraints, the Distribution of Wealth and International Trade. In: World Economy. 2011 ; Vol. 34, No. 5. pp. 707-724.
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Financial Constraints, the Distribution of Wealth and International Trade. / Amissah, Emmanuel; Bougheas, Spiros; Falvey, Rod.

In: World Economy, Vol. 34, No. 5, 05.2011, p. 707-724.

Research output: Contribution to journalArticleResearchpeer-review

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