Abstract
This article explores the long-run and causal linkages among economic, financial, and political country risk indicators for seven Balkan countries. Panel cointegration, FMOLS, DOLS, and the Granger and Dumitrescu-Hurlin causality tests are implemented. The empirical findings reveal that (1) there is a positive linkage between financial stability and economic stability in the seven countries in the long run, while financial stability has significant and positive impacts on political stability; and (2) vulnerability in economic and financial stability significantly leads to changes in political stability.
Full Text
Published Version
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call