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This paper employs several techniques to study the dynamic effect and causality among globalization, institutions and financial development. Specifically, we use the panel cointegration technique by Pedroni (1999, 2004); the DOLS approach by Kao and Chiang (1999); the FMOLS; the PMG technique of Pesaran et al. (1999) and the panel VECM causality approach. The panel cointegration test shows the existence...