The relationship between financial development and economic growth: Evidence for South American economies
Within econometric analysis, financial development and economic growth are two issues of great importance for economic and social planning, these have usually been directly related, without considering other factors that affect this relationship. Therefore, this research studies the link between thi...
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| Formaat: | article |
| Taal: | spa |
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2023
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| Online toegang: | https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/428 |
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Voeg label toe | _version_ | 1858113931395989504 |
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| author | Becerra Hurtado, Juan Pablo |
| author2 | Flores Chamba , Jorge Eduardo |
| author2_role | author |
| author_facet | Becerra Hurtado, Juan Pablo Flores Chamba , Jorge Eduardo |
| author_role | author |
| collection | Revista Cuestiones Económicas |
| dc.creator.none.fl_str_mv | Becerra Hurtado, Juan Pablo Flores Chamba , Jorge Eduardo |
| dc.date.none.fl_str_mv | 2023-06-30 |
| dc.format.none.fl_str_mv | application/pdf text/html |
| dc.identifier.none.fl_str_mv | https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/428 10.47550/RCE/33.1.3 |
| dc.language.none.fl_str_mv | spa |
| dc.publisher.none.fl_str_mv | Banco Central del Ecuador |
| dc.relation.none.fl_str_mv | https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/428/332 https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/428/339 |
| dc.rights.none.fl_str_mv | Derechos de autor 2023 Cuestiones Económicas https://creativecommons.org/licenses/by-nc/4.0 info:eu-repo/semantics/openAccess |
| dc.source.none.fl_str_mv | Cuestiones Económicas; Vol. 33 Núm. 1 (2023): Revista Cuestiones Económicas 2697-3367 2697-3367 reponame:Revista Cuestiones Económicas instname:Banco Central del Ecuador instacron:BCE |
| dc.subject.none.fl_str_mv | Economic growth International financial market Investment Econometrics Public policy Crecimiento económico Mercado financiero internacional Inversión Econometría Política pública |
| dc.title.none.fl_str_mv | The relationship between financial development and economic growth: Evidence for South American economies El nexo entre el desarrollo financiero y el crecimiento económico, evidencia para economías sudamericanas |
| dc.type.none.fl_str_mv | info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Artículos de Investigación |
| description | Within econometric analysis, financial development and economic growth are two issues of great importance for economic and social planning, these have usually been directly related, without considering other factors that affect this relationship. Therefore, this research studies the link between this relationship, adding variables such as savings, inflation, foreign direct investment, and gross capital formation. For this, data from official information sources such as the World Bank and the International Monetary Fund were used. To obtain results, panel-type econometric techniques were used, with cointegration estimates being precise, such as Westerlund (2005) and (2007), and long-term chance such as Dumistrecu y Hurlin (2012). We found that the variables as a whole maintain a convergence relationship, with financial development being a determinant of economic growth in most countries, with savings and gross capital formation being the factors that drive this relationship. |
| eu_rights_str_mv | openAccess |
| format | article |
| id | REVCUESTEC_f2252be7831659554d137bb1ddd34d86 |
| identifier_str_mv | 10.47550/RCE/33.1.3 |
| instacron_str | BCE |
| institution | BCE |
| instname_str | Banco Central del Ecuador |
| language | spa |
| network_acronym_str | REVCUESTEC |
| network_name_str | Revista Cuestiones Económicas |
| oai_identifier_str | oai:estudioseconomicos.bce.fin.ec:article/428 |
| publishDate | 2023 |
| publisher.none.fl_str_mv | Banco Central del Ecuador |
| reponame_str | Revista Cuestiones Económicas |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | Revista Cuestiones Económicas - Banco Central del Ecuador |
| repository_id_str | |
| rights_invalid_str_mv | Derechos de autor 2023 Cuestiones Económicas https://creativecommons.org/licenses/by-nc/4.0 |
| spelling | The relationship between financial development and economic growth: Evidence for South American economiesEl nexo entre el desarrollo financiero y el crecimiento económico, evidencia para economías sudamericanasBecerra Hurtado, Juan PabloFlores Chamba , Jorge Eduardo Economic growthInternational financial marketInvestmentEconometricsPublic policyCrecimiento económicoMercado financiero internacionalInversiónEconometríaPolítica públicaWithin econometric analysis, financial development and economic growth are two issues of great importance for economic and social planning, these have usually been directly related, without considering other factors that affect this relationship. Therefore, this research studies the link between this relationship, adding variables such as savings, inflation, foreign direct investment, and gross capital formation. For this, data from official information sources such as the World Bank and the International Monetary Fund were used. To obtain results, panel-type econometric techniques were used, with cointegration estimates being precise, such as Westerlund (2005) and (2007), and long-term chance such as Dumistrecu y Hurlin (2012). We found that the variables as a whole maintain a convergence relationship, with financial development being a determinant of economic growth in most countries, with savings and gross capital formation being the factors that drive this relationship.Dentro de los análisis econométricos, el desarrollo financiero y el crecimiento económico son dos temáticas de suma importancia para la planificación económica y social. Usualmente, han sido relacionadas de manera directa, sin tomar en consideración otros factores que inciden en dicha relación. Por lo tanto, esta investigación estudia esta relación, añadiendo variables como el ahorro, la inflación, la inversión extranjera directa y la formación bruta de capital. Se utilizaron datos provenientes de fuentes oficiales de información como el Banco Mundial y el Fondo Monetario Internacional. Para la obtención de resultados, se utilizaron técnicas econométricas de tipo panel: estimaciones de cointegración como Westerlund (2005) y (2007), y casualidad de largo plazo como Dumistrecu y Hurlin (2012). De ello se destaca que las variables en conjunto mantienen una relación de convergencia, siendo el desarrollo financiero un determinante del crecimiento económico en la mayoría de países, y siendo el ahorro y la formación bruta de capital los factores que impulsan esta relación.Banco Central del Ecuador2023-06-30info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionArtículos de Investigaciónapplication/pdftext/htmlhttps://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/42810.47550/RCE/33.1.3Cuestiones Económicas; Vol. 33 Núm. 1 (2023): Revista Cuestiones Económicas2697-33672697-3367reponame:Revista Cuestiones Económicasinstname:Banco Central del Ecuadorinstacron:BCEspahttps://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/428/332https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/428/339Derechos de autor 2023 Cuestiones Económicashttps://creativecommons.org/licenses/by-nc/4.0info:eu-repo/semantics/openAccess2023-09-14T15:54:01Zoai:estudioseconomicos.bce.fin.ec:article/428Portal de revistashttps://estudioseconomicos.bce.fin.ec/index.php/RevistaCEOrganismo de gobiernowww.bce.fin.echttps://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/oaiEcuadoropendoar:2023-09-14T15:54:01falsePortal de revistashttps://estudioseconomicos.bce.fin.ec/index.php/RevistaCEOrganismo de gobiernowww.bce.fin.echttps://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/oaiEcuadoropendoar:2023-09-14T15:54:01Revista Cuestiones Económicas - Banco Central del Ecuadorfalse |
| spellingShingle | The relationship between financial development and economic growth: Evidence for South American economies Becerra Hurtado, Juan Pablo Economic growth International financial market Investment Econometrics Public policy Crecimiento económico Mercado financiero internacional Inversión Econometría Política pública |
| status_str | publishedVersion |
| title | The relationship between financial development and economic growth: Evidence for South American economies |
| title_full | The relationship between financial development and economic growth: Evidence for South American economies |
| title_fullStr | The relationship between financial development and economic growth: Evidence for South American economies |
| title_full_unstemmed | The relationship between financial development and economic growth: Evidence for South American economies |
| title_short | The relationship between financial development and economic growth: Evidence for South American economies |
| title_sort | The relationship between financial development and economic growth: Evidence for South American economies |
| topic | Economic growth International financial market Investment Econometrics Public policy Crecimiento económico Mercado financiero internacional Inversión Econometría Política pública |
| url | https://estudioseconomicos.bce.fin.ec/index.php/RevistaCE/article/view/428 |