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U.S. Banking Integration and State-Level Exports

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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.
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hal-02018528 , version 1 (13-02-2019)

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  • HAL Id : hal-02018528 , version 1

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Tomasz Kamil Michalski, Evren Ors. U.S. Banking Integration and State-Level Exports. 2014. ⟨hal-02018528⟩

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