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

Author

Listed:
  • Ionuţ JIANU

    (The Bucharest University of Economic Studies, Romania)

  • Laura-Mădălina PÎRȘCOVEANU

    (The Bucharest University of Economic Studies, Romania)

  • Maria-Daniela TUDORACHE

    (The Bucharest University of Economic Studies, Romania)

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.

Suggested Citation

  • Ionuţ JIANU & Laura-Mădălina PÎRȘCOVEANU & Maria-Daniela TUDORACHE, 2017. "The impact of financial risks on economic growth in EU-15," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(1(610), S), pages 23-44, Spring.
    • Handle: RePEc:agr:journl:v:xxiv:y:2017:i:1(610):p:23-44
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    More about this item

    Keywords

    European Union; financial risks; economic growth; financial crisis; panel.;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • G01 - Financial Economics - - General - - - Financial Crises
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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