期刊名称：Journal of Applied Economics and Business Research
电子版ISSN：1927-033X
出版年度：2013
卷号：3
期号：4
页码：232-248
出版社：Journal of Applied Economics and Business Research
摘要：In this paper, the long-run causality between financial development, financial crisis and globalization―trade and financial openness―in India is investigated through the co-integration techniques of the VARX and ARDL methods. The main finding is that although the single impact of either trade or financial openness is uncertain, the simultaneous opening of the two sectors contributes to financial development. Another finding is that the growing presence of international trade is relevant to the occurrence of financial crisis. Policymakers, especially those of developing countries, need to recognize these effects of trade and financial openness in designing development plans.
关键词：Financial development; financial crisis; trade openness; financial openness; cointegration; India.
