The Relevance of Financial Integration Across Europe: A Dynamic Panel Data Approach

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dc.authorscopusid57214100167
dc.authorscopusid55146091800
dc.contributor.authorOzdemir, Onur
dc.contributor.authorKayhan, Fatih
dc.date.accessioned2024-09-11T19:58:02Z
dc.date.available2024-09-11T19:58:02Z
dc.date.issued2021
dc.departmentİstanbul Gelişim Üniversitesien_US
dc.description.abstractThis paper aims to examine the degree of financial integration for selected European countries from 1980 to 2019 using dynamic panel data approaches, covering the panel unit-root tests, cointegration analysis, panel Granger causality tests, and the DOLS and FMOLS methods. Saving and investment rates are found to be stationary at order of integration one, i.e., I (1). It is also found to be that the series are cointegrated along with different meth-ods. Similar to that of cointegration analysis, it is observed that the causality between the variables is statistically significant and bidirectional. Finally, the current study proceeds to test the direction of coefficients for the estimation of the long-run relationship among the series by way of using panel DOLS and FMOLS methods. The values of co-efficients show that the effects of each variable on another are both positive and statistically significant at the 1% level. Therefore, the empirical findings point out that strong financial integration is relevant to those European coun-tries. © 2021 Better Advances Press. All rights reserved.en_US
dc.identifier.doi10.55365/1923.X2021.19.01
dc.identifier.endpage12en_US
dc.identifier.issn1923-7529en_US
dc.identifier.scopus2-s2.0-85125880022en_US
dc.identifier.scopusqualityQ4en_US
dc.identifier.startpage1en_US
dc.identifier.urihttps://doi.org/10.55365/1923.X2021.19.01
dc.identifier.urihttps://hdl.handle.net/11363/8402
dc.identifier.volume19en_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherBetter Advances Pressen_US
dc.relation.ispartofReview of Economics and Financeen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.snmz20240903_Gen_US
dc.subjectDynamic Panel Data Approach; European Economy; Feldstein-Horioka Puzzle; Financial Integration; International Capital Mobilityen_US
dc.titleThe Relevance of Financial Integration Across Europe: A Dynamic Panel Data Approachen_US
dc.typeArticleen_US

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