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This paper provides evidence for a significant relation between international financial markets integration and output volatility. In the framework of a threshold model, it is empirically shown that this relation depends on the financial risk of a country. Financial risk is defined as the...
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This paper provides evidence for a significant relation between international financial markets’ integration and output volatility. In the framework of a threshold model, it is shown empirically that this relation depends on country’s financial risk. Financial risk indicates a country’s...
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