The Impact Of Financial Liberalization On Export-Trade Quality In Developing Countries

Economic globalization has prompted the rapid expansion of the foreign trade sector of developing countries.Compared with the rapid development of trade volume,the quality of trade in developing countries has not improved much.In international trade,developing countries still focus on exporting primary products and labor-intensive products,and the quality of trade,especially the quality of export trade,cannot be improved in time,making developing countries long-term disadvantages in international industrial chains and international trade.position.On the one hand,developing countries are often subjected to anti-dumping and anti-monopoly measures in developed countries in the international trade market,and the demand for products fluctuates greatly,which is not conducive to the stable development of related industries.On the other hand,it will also cause imbalances in the current account balance of domestic trade,affecting the stable development of the economy.Therefore,how to improve and improve the quality of trade,especially the quality of export trade,is an important issue for developing countries themselves.Beginning in the late 20th century,can the financial liberalization reform of developing countries liberalize economic policies through capital markets and raise the level of financial development to enhance trade quality and promote economic development?Has been widely concerned by the academic community.Based on the existing research,this paper constructs a simple and macroscopic analysis framework based on the economic characteristics such as technology gap and export transformation segmentation,and explores the impact of financial liberalization in developing countries on the optimization of export structure.The selection includes 22 developments.National sample data,using regression models that control time effects and country effects,and quantile regression models to conduct empirical tests from a dynamic perspective,and replace relevant variables for robustness testing.The study found that:(1)Prudent financial liberalization is an important part of developing countries to maintain financial stability and improve the quality of export trade.(2)Under the condition that the financial system is still incomplete,the process of financial liberalization has inhibited the improvement of trade quality in developing countries;the suppression effect is different at different stages of export transformation,and the previous stage of export transformation has a higher degree of inhibition..(3)In the different stages of transformation and upgrading,the inhibition of financial liberalization on the improvement of trade quality in developing countries has increased with the increase of technological gap.(4)Financial liberalization depends on the development of industrial innovation and technology.Under the conditions allowed by the level of technical supervision,an appropriate increase in the proportion of private credit is conducive to improving the quality of trade.Therefore,this paper argues that the unrealistic use of financial liberalization policies does not improve trade quality and promote economic growth;prudent financial liberalization is an important part of developing countries’ economic and financial stability,and financial liberalization depends on domestic industries.In the development of innovative science and technology,developing countries should adopt their own developmental reality and adopt a financial development policy that suits their national conditions,especially to avoid financial development from becoming a virtual reality.This is the only effective development path.