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This research paper aims to empirically analyze the relationship between economic growth and financial development, in the region of Western Balkan countries, over the period 2010-2020. The relationship is demonstrated by the effects of independent variables such as trade (T), inflation consumer prices (ICP), general government final consumption (GGFCE), domestic credit to the private sector (DCPS), broad money (BM), and the real interest rate (IR), on the dependent variable, such as GDP growth.
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Bilalli et al. (2023) studied this question.
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