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Finance and European regional economy

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  • Inekwe, John Nkwoma

Abstract

This study computes banking risk indexes for European developing countries and analyses the impact of identified risk factors on economic growth across regions and cities. We examine the short-run and long-run behaviours of the series. The results reveal that real gross domestic product (RGDP) per capita co-moves with banking risk. We find that about 17% of focal regions suffer significantly from banking risk shocks. The effect ranges from 0.1% to 0.7%, with a lower magnitude for cities. Banking risk has the most detrimental effects in Russia. Short- and long-run decrements in RGDP range between 0.2% and 0.3% across the panel.

Suggested Citation

  • Inekwe, John Nkwoma, 2021. "Finance and European regional economy," International Review of Financial Analysis, Elsevier, vol. 78(C).
    • Handle: RePEc:eee:finana:v:78:y:2021:i:c:s1057521921002477
    DOI: 10.1016/j.irfa.2021.101921
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    More about this item

    Keywords

    Banking risk; Regional RGDP; Developing countries; Europe;
    All these keywords.

    JEL classification:

    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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