{"id":1666,"date":"2023-02-13T16:19:19","date_gmt":"2023-02-13T16:19:19","guid":{"rendered":"https:\/\/www.fiw.ac.at\/publications\/financial-development-financial-openness-and-trade-openness-new-evidence\/"},"modified":"2023-02-13T16:19:19","modified_gmt":"2023-02-13T16:19:19","slug":"financial-development-financial-openness-and-trade-openness-new-evidence","status":"publish","type":"publication","link":"https:\/\/www.fiw.ac.at\/en\/publications\/financial-development-financial-openness-and-trade-openness-new-evidence\/","title":{"rendered":"Financial Development, Financial Openness and Trade Openness: New evidence"},"content":{"rendered":"\nEmploying the Pedroni co-integration technique and the GMM estimator, this paper aims at investigating the possible connection between financial development, financial openness and trade openness in twenty-nine Asian developing countries over 1994-2008. Firstly, we find a bidirectional causality between trade openness and financial development\/openness. Secondly, the relationship between financial development and financial openness is heterogeneous across different measures. Finally, this paper provides a complementary contribution to earlier studies as asking for the question of whether the inclusion of financial crisis in estimated models can change the nature of the relationship between financial development and both types of openness.\n\n","protected":false},"featured_media":0,"menu_order":0,"template":"","jelcode":[950,61,180,630,68],"keyword":[55,951,575,451,20,952],"class_list":["post-1666","publication","type-publication","status-publish","hentry","jelcode-d90","jelcode-f14","jelcode-f36","jelcode-g01","jelcode-o16","keyword-developing-countries","keyword-financial-crisis","keyword-financial-development","keyword-financial-openness","keyword-international-trade","keyword-panel-co-integration"],"acf":{"year":2010,"month":11,"day":"","volume":"","number":"060","pages":33,"reviewed":"0","citeid":"FIW_WP_060","fiwseries":"FIW Working Papers","event":null},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Financial Development, Financial Openness and Trade Openness: New evidence - FIW<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fiw.ac.at\/en\/publications\/financial-development-financial-openness-and-trade-openness-new-evidence\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financial Development, Financial Openness and Trade Openness: New evidence - FIW\" \/>\n<meta property=\"og:description\" content=\"Employing the Pedroni co-integration technique and the GMM estimator, this paper aims at investigating the possible connection between financial development, financial openness and trade openness in twenty-nine Asian developing countries over 1994-2008. Firstly, we find a bidirectional causality between trade openness and financial development\/openness. 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