Crecimiento económico y desarrollo financiero. Período 1990 - 2018

dc.audienceComunidad Universidad de Medellínspa
dc.contributor.authorGuarata, Nora
dc.contributor.authorRamírez, Yésika
dc.coverage.spatialLat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degreesLong: 075 36 00 W degrees minutes Long: -75.6000 decimal degrees
dc.date.accessioned2025-09-25T20:48:43Z
dc.date.available2025-09-25T20:48:43Z
dc.date.issued2025-02-28
dc.descriptionLa relación entre la dinámica de los mercados financieros y el crecimiento económico ha sido un tema de interés para los hacedores de política económica. El trabajo que se presenta a continuación tiene como objetivo analizar si existe una relación de largo plazo entre los desarrollos financieros y el crecimiento económico. Para lograrlo, se construyeron dos índices que agrupan variables financieras y variables del mercado de valores. Usando la metodología de panel ARDL (Panel Autorregresivo de Rezagos Distribuidos, por sus siglas en inglés), se concluye que no se puede rechazar la hipótesis de cointegración entre las variables del modelo para una muestra de países latinoamericanos y Corea del Sur, en el período que va de 1990 a 2018. Así, se encontró una relación negativa entre el índice de variables bancarias y el crecimiento económico y una relación positiva entre el índice de variables del mercado de valores y el crecimiento económico.spa
dc.descriptionThis work analyzed the existence of a long run relation among economic growth and financial developments. We constructed two indexes which comprise a series of bank-based variables and stock market-based variables. Base on the ARDL approach, we cannot reject the hypothesis that there is cointegration among the variables for a group of Latin American countries plus South Korea, for a period from 1990 and 208. The results show a negative relationship between a bank-based index and economic growth and a positive relationship between a stock market-based index and economic growth.eng
dc.description.abstractA relação entre a dinâmica dos mercados financeiros e o crescimento económico tem sido um tema de interesse para os decisores de política económica. O trabalho apresentado a seguir visa analisar se existe uma relação de longo prazo entre a evolução financeira e o crescimento económico. Para isso, foram construídos dois índices que agrupam variáveis financeiras e variáveis do mercado de ações. Utilizando a metodologia do painel ARDL, conclui-se que a hipótese de cointegração entre as variáveis do modelo não pode ser rejeitada para uma amostra de países latino-americanos e Coreia do Sul, no período de 1990 a 2018. Assim, foi encontrada uma relação negativa entre o índice de variáveis bancárias e o crescimento económico e uma relação positiva entre o índice de variáveis do mercado bolsista e o crescimento económico.por
dc.format.extentp. 1-28spa
dc.format.mediumElectrónicospa
dc.format.mimetypeapplication/pdf
dc.format.mimetypePDF
dc.identifier.doihttps://doi.org/10.22395/seec.v28n64a4657
dc.identifier.eissn2248-4345
dc.identifier.instnameinstname:Universidad de Medellínspa
dc.identifier.issn0120-6346
dc.identifier.reponamereponame:Repositorio Institucional Universidad de Medellínspa
dc.identifier.repourlrepourl:https://repository.udem.edu.co/
dc.identifier.urihttp://hdl.handle.net/11407/9184
dc.language.isospa
dc.publisherUniversidad de Medellínspa
dc.publisher.facultyFacultad de Ciencias Económicas y Administrativasspa
dc.publisher.placeMedellínspa
dc.relation.citationendpage28
dc.relation.citationissue64
dc.relation.citationstartpage1
dc.relation.citationvolume28
dc.relation.haspartSemestre Económico; Vol. 28 Núm. 64 enero-junio 2025spa
dc.relation.ispartofseriesSemestre Económico; Vol. 28 No. 64 (2025)spa
dc.relation.referencesBuffie, E. F. (1984). Financial repression, the new structuralists, and stabilization policy in semi-industrialized economies. Journal of Development Economics, 14(3), 305-322. https://doi.org/10.1016/0304-3878(84)90061-0
dc.relation.referencesChoi, H. G. (2019). The Status of South Korea's Economyc: A Middle-income or a High-income Country? ESF Policy Debates(126). https://www.keaf.org/en/book/EAF_Policy_Debates/The_Status_of_South_Koreas_Economy_A_Middle-income_or_a_High-income_Country?ckattempt=2
dc.relation.referencesChoong, C., Yusop, Z., Law, S. H., & Sen, V. K. (2003). Finalcial Development and Economic Growth in Malaysia: The Stock Market Perspective. Economic Working Paper Archive at WUSTL - Macroeconomics. https://EconPapers.repec.org/RePEc:wpa:wuwpma:0307010
dc.relation.referencesDelong, J. B., & Olney, M. L. (2007). Macroeconomía. Mc Graw Hill.
dc.relation.referencesGelb, A. H. (1989). Financial policies, growth, and efficiency. In Policy Research Working Paper Series: World Bank, 1(WPS202). https://documents.worldbank.org/en/publication/documents-reports/documentdetail/878761468740137322/financial-policies-growth-and-efficiency
dc.relation.referencesGGDC/UNU-WIDER. (2021). Economic Transformation Database. Versión 2021. https://www.wider.unu.edu/database/etd-economic-transformation-database
dc.relation.referencesHabibullah, M. S., & Eng, Y. (2006). Does Financial Development Cause Economic Growth? A Panel Data Dynamic Analysis for the Asian Developing Countries. Journal of the Asia Pacific Economy, 11(4), 377-393. https://doi.org/10.1080/13547860600923585
dc.relation.referencesHuber, J. (2023). The Monetary Turning Point From Bank Money to Central Bank Digital Currency (CBDC). Cham: Palgrave Macmillan. https://doi.org/10.1007/978-3-031-23957-1
dc.relation.referencesKaldor, N. (1968). Productivity and Growth in Manufacturing Industry: A Reply. Economica, 35(140), 385. https://doi.org/10.2307/2552347
dc.relation.referencesKing, R. G., & Levine, R. (1993). Finance and Growth: Schumpeter Might Be Right. The Quarterly Journal of Economics, 108(3), 717-737. https://doi.org/10.2307/2118406
dc.relation.referencesKronick, J. (April de 2018). Productivity and the Financial Sector – What’s Missing? Financial Services and Regulation. Commentary No. 508. https://doi.org/10.2139/ssrn.3162367
dc.relation.referencesKrugman, P. (1994). La era de las expectativas limitadas . Ariel.
dc.relation.referencesLucas, R. E. (1988). On the mechanics of economic development. Journal Of Monetary Economics, 22(1), 3-42. https://doi.org/10.1016/0304-3932(88)90168-7
dc.relation.referencesMajid, M. A. (2008). Does Financial Development Matter for Economic Growth in Malaysia? An ARDL Bound Testing Approach. Journal of Economic Cooperation, (29), 61-82. https://www.researchgate.net/publication/286957681_Does_financial_development_matter_for_economic_growth_in_Malaysia_an_ARDL_bound_testing_approach
dc.relation.referencesMoyo, C., Khobai, H., Kolisi, N., & Mbeki, Z. (2018). Financial development and economic growth in Brazil: A Non-linear ARDL approach. Munich Personal RePEc Archive (85252). https://mpra.ub.uni-muenchen.de/85252/
dc.relation.referencesNyasha, S., & Odhiambo, N. M. (2015). The Impact of Banks and Stock Market Development on Economic Growth in South Africa: an ARDL-bounds Testing Approach. Contemporary Economics, 9(1), 93-108. https://www.researchgate.net/publication/275831783_The_Impact_of_Banks_and_Stock_Market_Development_on_Economic_Growth_in_South_Africa_An_ARDL-bounds_Testing_Approach
dc.relation.referencesNyasha, S., & Odhiambo, N. M. (2016). Banks, Stock Market Development and Economic Growth in Kenya: An Empirical Investigation. Journal of African Business, 18(1), 1-23. https://doi.org/10.1080/15228916.2016.1216232
dc.relation.referencesNyasha, S., & Odhiambo, N. M. (2017). Bank Versus Stock Market Development in Brazil: An ARDL Bounds Testing Approach. South East European Journal of Economics and Business, 12(1), 7-21. https://doi.org/10.1515/jeb-2017-0001Odedokun, M. (1996). Alternative econometric approaches for analysing the role of the financial sector in economic growth: Time-series evidence from LDCs. Journal of Development Economics, 50(1), 119-146. https://doi.org/10.1016/0304-3878(96)00006-5
dc.relation.referencesPesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds Testing Approaches to the Analysis of Level Relationships. Bounds Testing Approaches to the Analysis of Level Relationships, 289-326.
dc.relation.referencesRicardo, D. (1973). Principios de economía política y tributación. México: Fondo de Cultura Económica.
dc.relation.referencesRoubini, N., & Sala-I-Martin, X. (1992). Financial repression and economic growth. Journal of Development Economics, 39(1), 5-30. https://doi.org/10.1016/0304-3878(92)90055-e
dc.relation.referencesSolow, R. M. (1956). A Contribution to the Theory of Economic Growth. The Quarterly Journal of Economics, 70(1), 65-94. https://doi.org/10.2307/1884513
dc.relation.referencesStern, N. (1989). The Economics of Development: A Survey. The Economic Journal, 99(397), 597. https://doi.org/10.2307/2233764
dc.relation.referencesSwan, T. (1956). Economic growth and capital accumulation. Economic Record, 32 (2), 334-361. https://doi.org/10.1111/j.1475-4932.1956.tb00434.x
dc.relation.referencesVan Wijnbergen, S. (1983). Credit policy, inflation and growth in a financially repressed economy. Journal of Development Economics, 13(1-2), 45-65. https://doi.org/10.1016/0304-3878(83)90049-4
dc.relation.referencesWorld Bank. (2023a). World Development Indicators. Obtenido de https://databank.worldbank.org/source/world-development-indicators
dc.relation.referencesWorld Bank. (2023b). The Global Financial Development Database. Metadata. Obtenido de https://datacatalog.worldbank.org/search/dataset/0038648/Global-Financial-Development
dc.relation.urihttps://revistas.udem.edu.co/index.php/economico/article/view/4657
dc.rights.creativecommonsAttribution-NonCommercial-NoDerivatives 4.0 International*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0*
dc.sourceSemestre Económico; Vol. 28 No. 64 (2025): (enero-junio); 1-28
dc.subjectVariables bancariasspa
dc.subjectVariables del mercado de valoresspa
dc.subjectDesarrollo económicospa
dc.subjectBank-based financial developmenteng
dc.subjectStock market-based financial developmenteng
dc.subjectEconomic growtheng
dc.subjectVariáveis bancáriaspor
dc.subjectVariáveis do mercado de açõespor
dc.subjectDesenvolvimento económicopor
dc.titleCrecimiento económico y desarrollo financiero. Período 1990 - 2018spa
dc.titleEconomic growth and financial development. Period 1990-2018eng
dc.titleCrescimento económico e desenvolvimento financeiro. Período 1990 - 2018por
dc.typeArticle
dc.type.coarhttp://purl.org/coar/resource_type/c_6501
dc.type.driverinfo:eu-repo/semantics/article
dc.type.localArtículo científicospa
dc.type.versioninfo:eu-repo/semantics/publishedVersion

Archivos

Bloque original

Mostrando 1 - 1 de 1
Cargando...
Miniatura
Nombre:
Semestre_Economico_534.pdf
Tamaño:
738.62 KB
Formato:
Adobe Portable Document Format