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U.S. Banking Integration and State-Level Exports

Author

Listed:
  • Tomasz Kamil Michalski

    (GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique)

  • Evren Ors

    (GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique)

Abstract

We use US interstate banking deregulations to identify the bank finance-trade channel while controlling for state-country bank links. A 1% increase in banking integration between states caused a 0.23% increase in the state-country level foreign exports/domestic shipments ratio between 1992-1996. The observed effect is due to banks with foreign assets, while the US expansion of banks with only domestic assets has no impact on exports/domestic shipments ratio. Our findings support the bank finance channel of international trade.

Suggested Citation

  • Tomasz Kamil Michalski & Evren Ors, 2014. "U.S. Banking Integration and State-Level Exports," Working Papers hal-02018528, HAL.
    • Handle: RePEc:hal:wpaper:hal-02018528
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    Cited by:

    1. Beck, T.H.L., 2011. "The Role of Finance in Economic Development : Benefits, Risks, and Politics," Discussion Paper 2011-141, Tilburg University, Center for Economic Research.

    More about this item

    Keywords

    exports; international trade; interstate banking deregulation;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F15 - International Economics - - Trade - - - Economic Integration
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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