The Export-Promoting Effect of Cross-Border Banking Network Linkage Characteristics:Theoretical Mechanism and Empirical Research
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 con-structs 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 en-hancement 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 facilitat-ing trade financing and trade information transmission.
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