Examining the Relationship between Financial Development and International Trade in Croatia

Vlatka Bilas, Mile Bošnjak and Novak Ivan ()
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Novak Ivan: Faculty of Economics and Business, University of Zagreb, Croatia

South East European Journal of Economics and Business, 2017, vol. 12, issue 1, 80-88

Abstract: This paper examines the relationship between financial development and international trade in Croatia over the period from the first quarter of 1997 and the last quarter of 2015. The autoregressive distributed lag (ARDL) bounds testing approach to cointegration is applied to examine the long-run and short-run relationships among the series. The research hypothesis is accepted and the relationship between financial development and international trade in Croatia is established and confirmed. The research results reveal unidirectional Granger causality from financial development to international trade at the 10% significance level, and negative long-run and the positive short-run relationships between financial developments and international trade in Croatia.

Keywords: financial development; international trade; Croatia (search for similar items in EconPapers)
JEL-codes: C01 F14 G1 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:vrs:seejeb:v:12:y:2017:i:1:p:80-88:n:9

DOI: 10.1515/jeb-2017-0009

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