The current global crisis is systemic by being propagated in a banking, financial and economic crisis. It represents a negative external demand shock for Western Balkan Countries (WBC) with an impact on the banking and financial sector first (dice the third 2008 quarter) and then, since the...

The impact of international financial integration on economic performance continues to be one of the most debated issues among economists. Theoretical models have identified a number of channels through which financial integration can promote economic development and growth in developing...