DEVELOPMENTS, TRENDS AND FEATURES OF FINANCIAL  INTEGRATION IN THE WESTERN BALKAN REGION- CROSS- COUNTRY COMPARISONS

Mehmed GANİĆ; Agim MAMUTİ

Makale detayları

DEVELOPMENTS, TRENDS AND FEATURES OF FINANCIAL INTEGRATION IN THE WESTERN BALKAN REGION- CROSS- COUNTRY COMPARISONS

Yazarlar:

Mehmed GANİĆ | Agim MAMUTİ

Yayıncı:

Zonguldak Bulent Ecevit University

Dergi:

International Journal of Management Economics and Business 2016 Vol.12 Issue 12, pp.1-11

Belge Tipi:

Makale

Yayın Tarihi:

9/2016

Belge Dili:

İngilizce

Document ID (Org No.):

2000667356

Sıklık:

Üç Aylık

eISSN:

2147-9194

pISSN:

2147-9208

Özet:

 

This paper looks at the key trends of financial integration and analyzes the degree to which Western Balkan countries are internationally integrated in financial flows. With the aim of reviewing the development of financial integration in the region some the experience of Western Balkan regions will be examined by conducting cross-country comparisons. The analysis focuses on the Western Balkans region by examining a set of financial indicators, but it will be useful to see the comparative view to the European perspective  EU 3 countries . To the purpose of cross country comparison, several important financial integration indicators related to financial openness and financial deepening are considered. The data for eight transition countries was sourced from the World Bank - World Development Indicators, IFS  International Financial Statistics , and WEO. For needs of the size and composition of capital inflows countries of the Western Balkan and EU 3 countries data are drawn from balance of payment selected countries. The paper provides two key insights. First, the financial systems in sample of analyzing countries are still at an earlier stage. Second, the median volatility of Portfolio investments  as % of GDP  is shown substantially less than the median volatility of Loanto-GDP ratio and median volatility of FDI flows-to-GDP ratio. Also, the coefficient of variation for the Western Balkan region as well as EU3 countries reveals that the loanto-GDP ratio is less volatile than the FDI inflows to GDP ratio.

 

This paper looks at the key trends of financial integration and analyzes the degree to which Western Balkan countries are internationally integrated in financial flows. With the aim of reviewing the development of financial integration in the region some the experience of Western Balkan regions will be examined by conducting cross-country comparisons. The analysis focuses on the Western Balkans region by examining a set of financial indicators, but it will be useful to see the comparative view to the European perspective  EU 3 countries . To the purpose of cross country comparison, several important financial integration indicators related to financial openness and financial deepening are considered. The data for eight transition countries was sourced from the World Bank - World Development Indicators, IFS  International Financial Statistics , and WEO. For needs of the size and composition of capital inflows countries of the Western Balkan and EU 3 countries data are drawn from balance of payment selected countries. The paper provides two key insights. First, the financial systems in sample of analyzing countries are still at an earlier stage. Second, the median volatility of Portfolio investments  as % of GDP  is shown substantially less than the median volatility of Loan-to-GDP ratio and median volatility of FDI flows-to-GDP ratio. Also, the coefficient of variation for the Western Balkan region as well as EU3 countries reveals that the loan-to-GDP ratio is less volatile than the FDI inflows to GDP ratio.

Makale detayları

DEVELOPMENTS, TRENDS AND FEATURES OF FINANCIAL INTEGRATION IN THE WESTERN BALKAN REGION- CROSS- COUNTRY COMPARISONS

Yazarlar: Mehmed GANİĆ | Agim MAMUTİ

Yayıncı: Zonguldak Bulent Ecevit University

Dergi: International Journal of Management Economics and Business 2016 Vol.12 Issue 12, pp.1-11

Belge Tipi: Makale

Yayın Tarihi: 9/2016

Belge Dili: İngilizce

Document ID (Org No.): 2000667356

Sıklık: Üç Aylık

eISSN: 2147-9194

pISSN: 2147-9208

Sayı

Yazarlar:

Mehmed GANİĆ | Agim MAMUTİ

Yayıncı:

Zonguldak Bulent Ecevit University

Dergi:

International Journal of Management Economics and Business 2016 Vol.12 Issue 12, pp.1-11

Belge Tipi:

Makale

Yayın Tarihi:

9/2016

Belge Dili:

İngilizce

Document ID (Org No.):

2000667356

Sıklık:

Üç Aylık

eISSN:

2147-9194

pISSN:

2147-9208