The relationship between financial risk, financial openness, trade openness, and financial development in Southern Mediterranean countries

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dc.authoridArıca, Feyza / 0000-0002-5552-347X
dc.contributor.authorAyhan, Fatih
dc.contributor.authorArıca, Feyza
dc.date.accessioned2025-01-27T18:56:20Z
dc.date.available2025-01-27T18:56:20Z
dc.date.issued2024
dc.departmentÇanakkale Onsekiz Mart Üniversitesi
dc.description.abstractThis study mainly aims to find the effects of financial openness, trade openness, and financial risk on financial development for nine Southern Mediterranean countries over the period 1984–2014 with panel analysis. Westerlund’s (2007) panel cointegration and error correction test is applied. The findings of common correlated effects (CCE) estimation show that financial openness positively affects financial development in Egypt, Tunisia, and Turkey, while it negatively affects financial development in Algeria and Lebanon. Additionally, according to the estimation results, a lower financial risk causes higher financial development in Algeria and Turkey. When the relationship between financial development and trade openness is investigated, while trade openness affects financial development negatively in Libya, it has a positive effect in Jordan, Tunisia, and Turkey. We conclude that financial openness and trade openness is beneficial to financial development for developing economies, while financial risk harms the financial development of economies. To overcome the economic bottlenecks in developing countries, policymakers should take action to reduce the financial risk levels of the economies and remove financial and trade barriers so as to increase financial development.
dc.identifier.doi10.1504/IJEPEE.2024.138471
dc.identifier.endpage122
dc.identifier.issn1752-0452
dc.identifier.issue2
dc.identifier.scopus2-s2.0-85193270939
dc.identifier.scopusqualityQ3
dc.identifier.startpage107
dc.identifier.urihttps://doi.org/10.1504/IJEPEE.2024.138471
dc.identifier.urihttps://hdl.handle.net/20.500.12428/12947
dc.identifier.volume19
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherInderscience Publishers
dc.relation.ispartofInternational Journal of Economic Policy in Emerging Economies
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.snmzKA_Scopus_20250125
dc.subjectfinancial development
dc.subjectfinancial openness
dc.subjectfinancial risk
dc.subjectpanel analysis
dc.subjecttrade openness
dc.titleThe relationship between financial risk, financial openness, trade openness, and financial development in Southern Mediterranean countries
dc.typeArticle

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