The last 20 years have witnessed the financial liberalization of equity markets across the world which have opened the international financing path and resulted in risk diversification, capital cost decreases and investment growth. However, liberalization may have negative effects as well. It...

The impact of trade and financial openness can be measured by the sensitivity of the first moment of the economic growth. Taking into account the domestic conditions, this paper provides an empirical evaluation of the impact of globalization on the economic growth in the Eastern Europe. The data...