Exploiting unique, time-varying, bilateral data on bank ownership for many countries, we show that exports tend to be larger when a foreign bank from the importing country is present. Entry of a foreign bank also boosts export growth to the home country of the foreign bank relative to other countries, especially when foreign bank presence in the country is large and bilateral cross-border lending low. We find supportive evidence that foreign banks facilitate trade by reducing financial frictions for firms. Entry spurs exports to the foreign bank's home country especially in sectors more dependent on external finance, and particularly so in countries less economically and financially developed and with a higher share of foreign banks. Imports of external finance dependent sectors also grow more after entry, but less so than exports do. Exit of a foreign bank does not fully eliminate the beneficial effects of prior foreign bank presence on exports.

利用许多国家关于银行所有权的独特的，随时间变化的双边数据，我们显示，当存在来自进口国的外国银行时，出口往往会更大。外国银行的进入也促进了外国银行相对于其他国家向本国的出口增长，尤其是当外国银行在该国的业务量很大而双边跨境贷款较低时。我们发现支持性证据表明，外国银行通过减少公司的财务摩擦来促进贸易。进入刺激了对外国银行母国的出口，特别是在那些更依赖外部资金的部门，尤其是在经济和金融发展程度较低，外资银行份额较高的国家。进入后，依赖外部资金的部门的进口也增长更多，但增速低于出口。