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This paper analyses the short- and long-run effects of trade openness on financial development in a panel including data on 35 European countries over the period 2001-2019. For this purpose, it uses the PMG (pooled mean group) estimator for dynamic panels developed by Pesaran et al. (1999). The...
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macroeconomic environment, affect the risk profiles of the banking sector in Europe. Through a dataset that covers 3,399 European … Central and Eastern Europe and the Commonwealth of Independent States that have not been studied before. The extended model …
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