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1、-------AbstractEconomicglobalizationisanimportantcharacteristicoftheeconomicdevelopmentintheworldtoday,andtwoimportantaspectsofeconomicglobalizationarefinancialmarketandthedevelopmentofinternationaltrade.Buttheproblemoftherelationshipbetweenfinancialdevelopmentandinternationaltradedonotgetfu
2、llattentionintheory.Thispaperputscomparativeadvantagechangesundertheconditionoffinancialdevelopmentastheresearchobject,deeplyanalyzesinfluencemechanismandapproachesofthefinancialdevelopmentoncomparativeadvantage,andusesdataofChinesemanufacturingindustryforinspection.Onthebasisofpreviousstudi
3、es,thispaperresearchestheeffectsoffinancialdevelopmentonchangesofChinesemanufacturingindustry’scomparativeadvantagesfromthreepartsincludingthesituationdescription,theoreticalanalysis,andempiricalanalysis.Inthesituationdescriptionpart,withthemethodofstatistics,thisarticledescribesthepresentsi
4、tuationoffinancialdevelopmentfromthreeaspects,includingscale,efficiencyandstructure.Besides,thispaperanalyzesChineseinternationaltradecomparativeadvantagechangesfrommacronationallevelandmicroindustriallevelbycalculatingexporttradestructureandtradecompetitivenessindex(TC).Inthetheoreticalpart
5、,thispaperaddsfinancialdevelopmentfactorintoHOtheoryframework,explainsthatfinancialdevelopmentcanimprovecapitalendowmentandtechnicalprogressthroughfinancialsupport,thusaffectingacountry'scomparativeadvantage.AndbymodifyingthemathematicalmodelofKletzerandBardhan(1987),thispaperfurtherelaborat
6、estherelationshipbetweenfinancialdevelopment,-----------financialsupportandcomparativeadvantage.Intheempiricalpart,basedontheperspectiveofexternalfinancingdependency,thispapergoesdeepintomanufacturingindustrysegmentsandempiricallyanalyzestheeffectsoffinancialdevelopmentoncomparativeadvantage
7、changesinChinabyusingPCSErobustestimationmethodandfeasibilitygeneralizedleastsquaresestimationmethod(FGLS),themajorconclusionsareasfollows:Thefinancialscaleexpansionhasanobviousroleinpromotingthemanufacturingsectorindustries’scomparativeadvantage,b