跨境银行网络关联特征的出口促进效应:理论机制与实证研究  

The Export-Promoting Effect of Cross-Border Banking Network Linkage Characteristics:Theoretical Mechanism and Empirical Research

作　　者：安蕾 戴金平[2] 徐伟 An Lei;Dai Jinpin;Xu Wei(School of Finance,Nanjing Audit University;School of Economics,Nankai University;School of Economics and Management,Tianjin Agricultural University)

机构地区：[1]南京审计大学金融学院 [2]南开大学经济学院 [3]天津农学院经济管理学院

出　　处：《国际金融研究》2024年第11期51-62,共12页Studies of International Finance

基　　金：国家社会科学基金后期资助项目“全球金融周期下跨境风险传导与应对政策研究”(22FJLB33);教育部人文社会科学青年项目“跨境银行网络下的外部冲击传染路径识别与宏观审慎监管研究”(21YJC790001);江苏省社会科学基金青年项目“新发展格局下江苏双向投资协同发展研究”(22EYC006)资助。

摘　　要：随着金融全球化的深入发展,各经济体银行通过国际分支机构、跨境支付、融资和投资等活动构建了复杂的网络关联,深刻影响国际贸易效率甚至各经济体的贸易比较优势。本文构建了包含全球银行及融资约束的国际贸易模型,剖析了全球银行网络中心性对经济体出口的影响及其潜在机制,并基于2000—2023年29个经济体的双边跨境信贷流量数据,对研究假设进行实证检验。研究结果表明:各经济体银行体系在全球网络中心性的提升,将显著提高各经济体双边出口规模。机制检验发现:银行网络中心性的提升通过缓解融资约束和降低信息壁垒渠道,发挥促进出口的作用。本文为促进跨境银行网络发展,助力贸易融资和贸易信息传递提供了决策参考。With the deepening development of financial globalization,banks in each economy have constructed complex network connections through international branches,cross-border payments,financing,and investment activities,which may profoundly impact the efficiency of international trade and even the comparative advantage of each economy.This article constructs an international trade model that includes global banks and financing constraints,analyzing the impact of global bank network centrality on the exports of economies and its potential mechanisms.Based on the data on bilateral cross-border credit flows among 29 economies from 2000 to 2023,this paper empirically tests the hypotheses.The findings indicate that enhanced cross-border banking connections,as well as increased weighted out-degree,betweenness centrality,and closeness centrality in the global banking network,significantly increase the bilateral export scale of economies.Mechanism tests reveal that the enhancement of bank network centrality promotes exports by alleviating financing constraints and reducing information barriers.This article provides decision-making references for promoting the development of cross-border banking networks and facilitating trade financing and trade information transmission.

关 键 词：跨境银行网络 国际贸易 融资约束 信息不对称 

分 类 号：F830[经济管理—金融学]