Please use this identifier to cite or link to this item: http://hdl.handle.net/11455/27647
標題: 國際金融整合一定有助於經濟成長嗎?全球實證分析
Does International Financial Integration Promote Economic Growth: Global Evidence
作者: 莊郁雯
Chuang, Yu-Wen
關鍵字: international financial integration;國際金融整合;economic growth;panel data;foreign direct investment;foreign portfolio investment;經濟成長;追蹤資料;外人直接投資;外人證券投資
出版社: 應用經濟學系所
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摘要: 
本文採用1976-2001年49國的追蹤資料(panel data)檢測國際金融整合與經濟成長的關係,我們以外人直接淨投資、外人證券淨投資與資本淨流量等3個變數作為國際金融整合的指標。本文主要的貢獻在於解釋國際金融整合是否一定有助於經濟成長?在不同經濟、金融及制度條件下,國際金融整合與經濟成長的關係是否會發生改變?我們探討的影響因素包括:金融發展程度、金融自由化、貿易自由化、經濟發展程度、銀行危機、通貨危機、政府治理及制度、貪污程度與人力資本等。最後,透過國際金融整合與國內投資關係的探討,進一步了解國際金融整合與經濟成長是否存在不同角度的影響。
本文實證結果顯示國際金融整合對經濟成長的影響效果為不顯著的正向影響。在影響國際金融整合與經濟成長關係的因素中我們發現:一、在金融發展程度較高、中所得水準、及拉丁美洲國家,會增強國際金融整合與經濟成長的正向關係。二、在高所得水準、發生銀行危機與通貨危機、及政府制度健全的國家,會減弱國際金融整合對經濟成長的正向效果,或效果不顯著。三、在撒哈拉以南的非洲國家、東亞國家、金融自由化與貿易自由化、人力資本等影響因素之下,不會改變國際金融整合對經濟成長的影響。由上述結果可知,一國倚靠國際金融整合來促進經濟成長,無法彰顯成效,必須藉由透過經濟、金融及制度的建立,方可達成國際金融整合的有效目標。接著,我們考慮跨國資料的outlier問題,變數內生性,及落後效果的影響,以及將資料取五年平均,均不會改變本文的結論,支持實證結果的穩健性。
URI: http://hdl.handle.net/11455/27647
其他識別: U0005-2606200621515600
Appears in Collections:應用經濟學系

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