From international financial integration towards fragmentation: implication for macro-financial stability
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Date
2025
Authors
Vakh, Oksana
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Abstract
This thesis aims to explore the linkages between financial integration and the dynamics of financial stability across CEE countries. The study focuses on testing the hypothesis that financial integration has a dual effect: on the one hand, it can contribute to economic growth and reduce financial stress; on the other hand, in the case of fragmentation or insufficient institutional capacity, it can increase vulnerability to external shocks.
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Keywords
financial integration, financial fragmentation, financial stability, financial stress index, economic integration, Central and Eastern Europe, Ukraine, bachelor`s thesis