In　this　paper,　we　utilize　panel　data　encompassing　44　emerging　market　countries　from　1996　to　2020　to　investigate　the　impact　of　openness　on　financial　development　and　rethink　the　interrelationship　between　trade　openness　and　financial　openness.　Our　findings　indicate　that　openness　contributes　to　the　promotion　of　financial　development.　Furthermore,　this　paper　extends　and　refines　the　classification　of　open　relationships　by　considering　three　distinct　types　of　policymakers:　prudent,　radical,　and　discretionary.　Through　this　categorization,　we　shed　light　on　the　ambiguity　of　the　marginal　effects　of　trade　and　financial　opening　policies.