Plausibly Exogenous [1996] - Flows (07/21/2025)

LHS Variable
Trade of goods

RHS Variable
Trade of financial assets

Source of Exogenous Variation
Strength of creditor and shareholder rights in a given country as instrument for financial flows

- Belke and Domnick (2021), “Trade and capital flows: Substitutes or complements? An empirical investigation”