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This article analyses the growth of microfinance by examining how some driven forces heighten more or less their financial integration. Three main driven forces identify: agency costs, financial development and trade-off in microfinance. The author samples 542 microfinance institutions. Quantile...
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and output volatility reveals that a developing country with a more open capital market tends to experience lower output … volatility, contrary to what might be expected. It is also found that countries can mitigate the destabilizing effect of pursuing … the benefit of financial liberalization to reduce output volatility, highly integrated economies need to be equipped with …
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Using developing countries in Europe for context, this study examines the complex relationship between financial crises and financial integration. We use panel data comprising 37 countries in Europe, including Iceland, Belarus, Ukraine, Turkey, and Russia from 2000-2019 and the general method of...
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According 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...
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