globalization remains open to debate in the literature. In this paper, we try to put some empirical structure on the concept of … object is to assess if financial benefits of financial globalization are questionable until greater domestic financial … financial systems), efficiency (banking and financial systems), activity (banking and financial systems) and size, play out in …

and Structure Database of the World Bank are employed, namely: financial depth (money supply and liquid liabilities …), financial system efficiency (at banking and financial system levels), financial system activity (from banking system and … banking system efficiency, banking system activity and financial system activity. Moreover, the positive effects are …