Study On The Influence Of Digital Trade Barriers On Financial Service Export

The trend of economic globalization is irreversible.Financial globalization is not only an important part of economic globalization,but also an important driving force of economic globalization.In the process of financial globalization,a country’s financial service export is not only an important reflection of its level of integration into financial globalization,but also an intuitive reflection of its level of financial openness.At the same time,however,the number of countries adopting digital trade restrictive measures has increased dramatically,which has led to the escalation of new digital trade barriers.Does this have any impact on a country’s exports of financial services? Taking this as a research breakthrough,it is of great significance for China to better deal with the relevant issues in the field of digital trade barriers and promote the sound and sustainable development of financial service exports to explore the impact of digital trade barriers on financial service exports and its mechanism.Firstly,based on the OECD-DSTRI database,this paper selects Digital Service Trade Restriction Index for 41 sample countries from 2014 to 2021.DSTRI,as well as the World Trade Organization’s sample country exports of financial services for the same period constitute panel data.Firstly,this paper analyzes the theoretical basis and mechanism of the influence of digital trade barriers on financial service export.Secondly,it reviews the development status of international financial service export,China’s financial service export and international digital trade barriers.Finally,the mixed OLS model was used to further verify its impact by empirical analysis,and five control variables including economic development level,goods trade scale,financial industry openness,R&D expenditure and FDI inflow scale were added to study the impact of digital trade barriers on the export of financial services,and relevant policy suggestions were put forward after drawing conclusions.The conclusions of this study are as follows: First,digital trade barriers are gradually increasing,and financial service exports are gradually developing;Second,digital trade barriers significantly inhibit the export scale of financial services;Thirdly,the impact of digital trade barriers on financial service exports is heterogeneous.Fourthly,digital trade barriers affect the export level of financial services by raising trade costs.On this basis,this paper provides policy suggestions on how to weaken the influence of digital trade barriers on the export of financial services,further improve the export of financial services,and promote the benign and sustainable development of the export of financial services.It mainly includes: strengthening the opening-up of financial service export,improving supporting policies of financial service export,strengthening the independent innovation ability of financial service export enterprises,and participating in international cooperation of financial service trade.