International financial integration: Too much?

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dc.authoridTasdemir, Fatma/0000-0001-8706-7942
dc.contributor.authorTasdemir, Fatma
dc.date.accessioned2025-03-23T19:41:56Z
dc.date.available2025-03-23T19:41:56Z
dc.date.issued2023
dc.departmentSinop Üniversitesi
dc.description.abstractAccording to theory, financial openness (FO) increases growth. The literature often conditions the growth effect of FO on favorable collateral environment. However, this can conceal the actual growth benefits of FO. This paper contributes to the literature by investigating the unconditional growth effect of FO, measured as de facto international financial integration (IFI). We maintain that the level of IFI might affect the structure of this relationship. We examine this important issue in advanced and emerging market and developing economies over the 1990-2019 period using conditional and unconditional growth regressions. Panel fixed effects threshold and dynamic panel threshold estimations suggest that the IFI-growth relation is conditional on data-driven estimated threshold level of IFI. Accordingly, IFI encourages (impedes) growth in less (more) financially integrated economies. The results show that it is not impossible to finance growth with IFI, but it might be risky, especially beyond a certain threshold level of IFI.Copyright & COPY; 2022 Borsa Istanbul Anonim S, irketi . Published by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).
dc.identifier.doi10.1016/j.bir.2022.11.005
dc.identifier.endpage411
dc.identifier.issn2214-8450
dc.identifier.issn2214-8469
dc.identifier.issue2
dc.identifier.scopus2-s2.0-85143871738
dc.identifier.scopusqualityQ1
dc.identifier.startpage402
dc.identifier.urihttps://doi.org/10.1016/j.bir.2022.11.005
dc.identifier.urihttps://hdl.handle.net/11486/6685
dc.identifier.volume23
dc.identifier.wosWOS:001020649100001
dc.identifier.wosqualityQ1
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.institutionauthorTasdemir, Fatma
dc.language.isoen
dc.publisherElsevier
dc.relation.ispartofBorsa Istanbul Review
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_WOS_20250323
dc.subjectAdvanced economies
dc.subjectEmerging market and developing economies
dc.subjectGrowth
dc.subjectInternational financial integration
dc.subjectPanel threshold model
dc.titleInternational financial integration: Too much?
dc.typeArticle

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