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The Impact of Financial Sector Development on Economic Growth in Developing Countries over the Period 2001-2011

Financial system development is of great importance for economic growth, as it facilitates the transfer of financial resources and, through specific services performed directly or indirectly, it contributes to functions, such as savings mobilization, creation of liquidity, and risk diversification....

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Autor Principal: Cortés Villafradez, Raúl Alberto
Otros Autores: Hernández Luna, Yezid
Formato: info:eu-repo/semantics/article
Idioma: spa
Publicado: Universidad de La Salle. Revistas. Equidad & Desarrollo. 2016
Materias:
Financial market; economic growth; domestic credit; gross fixed capital formation; emerging economies; savings; capital investment.
Mercado financiero; crecimiento económico; crédito interno; formación bruta de capital fijo; economías emergentes; ahorro; inversión de capital.
Mercado financeiro; crescimento econômico; crédito interno; formação bruta de capital fixo; economias emergentes; poupança; investimento de capital.
Acceso en línea: http://revistas.lasalle.edu.co/index.php/ed/article/view/3252
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Sumario: Financial system development is of great importance for economic growth, as it facilitates the transfer of financial resources and, through specific services performed directly or indirectly, it contributes to functions, such as savings mobilization, creation of liquidity, and risk diversification. This paper attempts to analyze, by means of an econometric model developed with panel data for 26 countries, the causal link between financial system development, capital market and economic growth, based on approaches and findings related to studies by Levine and Ross.

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