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The impact of financial risks on economic growth in EU-15

Ionut Jianu (), Laura-Mădălina Pîrșcoveanu and Maria-Daniela Tudorache
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Laura-Mădălina Pîrșcoveanu: The Bucharest University of Economic Studies, Romania
Maria-Daniela Tudorache: The Bucharest University of Economic Studies, Romania

Theoretical and Applied Economics, 2017, vol. XXIV, issue 1(610), Spring, 23-44

Abstract: This paper examines the impact of financial risks on economic growth in the first 15 Member States of the European Union, considering 1995-2014 period and aims to lay down a new explanatory model of economic growth, based mainly on the behavioral reactivity of the financial disruptions mentioned above. The model was estimated through the panel estimated generalized least squares method and included additional control variables in order to strengthen the research conducted. Our goal consists in the examination of the financial risks in the European Union and in the estimation of their impact on economic growth.

Keywords: European Union; financial risks; economic growth; financial crisis; panel. (search for similar items in EconPapers)
Date: 2017
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Handle: RePEc:agr:journl:v:xxiv:y:2017:i:1(610):p:23-44