Efectos del desarrollo financiero sobre el crecimiento económico de Colombia y Chile, 1982-2014.
Este artículo analiza la validez y relevancia de las variables propuestas por King y Levine (1993) en el caso específico de Colombia y Chile; para ello, utiliza un modelo de datos de panel como una estrategia para encontrar posibles efectos significativos de las variables financieras sobre el crecimiento en ambos países, no solo considerando su comportamiento en el tiempo, sino también la existencia de heterogeneidades entre ambos. Los resultados muestran de manera parcial cómo algunas de sus variables tienen efectos distinguibles en el desempeño y crecimiento de la economía.
Guardado en:
2248-6046
2011-7663
9
2016-01-01
57
67
Armando Lenin Támara Ayús, Lina María Eusse Ossa, Andrés Castellón Pérez - 2017
http://purl.org/coar/access_right/c_abf2
info:eu-repo/semantics/openAccess
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Efectos del desarrollo financiero sobre el crecimiento económico de Colombia y Chile, 1982-2014. De Gregorio, J. y Guidotti, P. E. (1995). Financial development and economic growth. World Development, 23(3), 433-448. Doi: 10.1016/0305-750X(94)00132-I King, R. G., y Levine, R. (1993). Finance and Growth: Schumpeter Might be Right. The Quarterly Journal of Economics, 108(3), 717-737. Doi: 10.2307/2118406 Programa de las Naciones Unidas para el Desarrollo (PNUD) (2015). Informe sobre desarrollo humano. Nueva York: Autor. Greenwood, J., y Jovanovic, B. (1990). Financial Development, Growth, and the Distribution of Income. Journal of Political Economy, 98(5), 1076-1107. Doi: 10.2307/2937625 Goldsmith, R. W. (1969). Financial structure and development. New Heaven: Yale University Press. Giovannini, A. y Melo, M. (1993). Government Revenue from Financial Repression. The American Economic Review, 83(4), 953-963. Doi: 10.2307/2117587 Demetriades, P. O., y Hussein, K. A. (1996). Does financial development cause economic growth? Timeseries evidence from 16 countries. Journal of Development Economics, 51(2), 387-411. Doi: 10.1016/S0304-3878(96)00421-X Concha, Á. y Taborda, R. (2014). Insurance use and economic growth in Latin America. Some panel data evidence. Recuperado de https://ideas.repec.org/a/lde/journl/y2014i81p31-55.html Levine, R., y Renelt, D. (1992). A Sensitivity Analysis of Cross-Country Growth Regressions. The American Economic Review, 82(4), 942-963. Doi: 10.2307/2117352 Claessens, S., Dell?Ariccia, G., Igan, D. y Laeven, L. (2010). Cross-country experiences and policy implications form the global financial crisis. Economic Policy, 62, 267-293. Chang, T. Y., Lee, C. C. y Chang, C. H. (2014). Does insurance activity promote economic growth? Further evidence based on bootstrap panel Granger causality test. European Journal of Finance, 20(12), 1187-1210. Doi: 10.1080/1351847x.2012.757555 Castro, F., Kalatzis, A. E. G. y Martins-Filho, C. (2015). Financing in an emerging economy: Does financial development or financial structure matter? Emerging Markets Review, 23, 96-123. Doi: 10.1016/j. ememar.2015.04.012 Bencivenga, V. R. y Smith, B. D. (1991). Financial intermediation and endogenous growth. The Review of Economic Studies, 58(2), 195-209. Doi: 10.2307/2297964 Barro, R. J. (1991). Economic growth in a cross section of countries. The Quarterly Journal of Economics, 106(2), 407-443. Doi: 10.2307/2937943 Baltagi, B. H., Seuck, H. S., Byoung, C. J. y Won, K. (2007). Testing for serial correlation, spatial autocorrelation and random effects using panel data. Journal of Econometrics, 140(1), 5-51. Baltagi, B. H. y Long, L. (2012). The Hausman-Taylor panel data model with serial correlation. Recuperado de http://surface.syr.edu/cgi/viewcontent.cgi?article=1188&context=cpr Levine, R. (1991). Stock markets, growth, and tax policy. The Journal of Finance, 46(4), 1445-1465. Doi: 10.2307/2328866 Luintel, K. B., Khan, M., Arestis, P. y Theodoridis, K. (2008). Financial structure and economic growth. Journal of Development Economics, 86, 181-200. Armando Lenin Támara Ayús, Lina María Eusse Ossa, Andrés Castellón Pérez - 2017 http://purl.org/coar/resource_type/c_2df8fbb1 Text http://purl.org/coar/access_right/c_abf2 info:eu-repo/semantics/openAccess http://purl.org/coar/version/c_970fb48d4fbd8a85 info:eu-repo/semantics/publishedVersion http://purl.org/redcol/resource_type/ART http://purl.org/coar/resource_type/c_6501 McKinnon, R. I. (1973). Money and capital in economic development. The American Political Science Review, 68(4), 1822-1824 info:eu-repo/semantics/article Wooldridge, J. M. (2002). Econometric analysis of cross section and panel data. Cambridge: Instituto Tecnológico de Massachusetts. Trew, A. (2006). Finance and Growth: A critical survey. Economic Record, 82(259), 481-490. Doi:10.1111/j.1475-4932.2006.00361.x Schumpeter, J. A. (1911). Theory of economic development. Cambridge: Harvard University Press. Prahalad, C. K. y Hammond, A. (2002). Serving the world?s poor, profitably. Recuperado de http://www.ima.kth.se/utb/MJ2693/pdf/serving.pdf Ono, S. (2012). Financial Development and Economic Growth: Evidence from Russia. Europe-Asia Studies, 64(2), 247-256. Doi: 10.1080/09668136.2012.635484 Mehic, E., Silajdzic, S., y Babic-Hodovic, V. (2013). The Impact of FDI on Economic Growth: Some Evidence From Southeast Europe. Emerging Markets Finance and Trade, 49, 5-20. Asongu, S. A. (2015). Finance and growth: new evidence from meta-analysis. Managerial Finance, 41(6), 615. Publication https://creativecommons.org/licenses/by-nc-sa/4.0/ Artículo de revista Este artículo analiza la validez y relevancia de las variables propuestas por King y Levine (1993) en el caso específico de Colombia y Chile; para ello, utiliza un modelo de datos de panel como una estrategia para encontrar posibles efectos significativos de las variables financieras sobre el crecimiento en ambos países, no solo considerando su comportamiento en el tiempo, sino también la existencia de heterogeneidades entre ambos. Los resultados muestran de manera parcial cómo algunas de sus variables tienen efectos distinguibles en el desempeño y crecimiento de la economía. Támara Ayús, Armando Lenin Eusse Ossa, Lina María Castellón Pérez, Andrés Desarrollo financiero Crecimiento económico Panel de datos Transformación de prais-winten Crescimento econômico Desenvolvimento financeiro Painel de dados 9 1 Transformação de prais-winten Universidad Católica de Colombia https://revfinypolecon.ucatolica.edu.co/article/view/1339 application/pdf Español text/html application/xml Revista Finanzas y Política Económica Economic growth Financial development Journal article Prais-winsten transformation Data panel This article analyzes the validity and relevance of the variables proposed by King and Levine (1993) in the specific case of Colombia and Chile; for this effect, it uses a panel data model as a strategy to find possible significant impacts of the financial variables on growth in both countries, not only considering their behavior over time, but also the existence of heterogeneities among them. The results partially show how some of the variables have distinguishable impacts on economic performance and growth. The impacts of financial development on economic growth in Colombia and Chile, 1982-2014. 10.14718/revfinanzpolitecon.2017.9.1.4 https://doi.org/10.14718/revfinanzpolitecon.2017.9.1.4 2017-01-01T00:00:00Z https://revfinypolecon.ucatolica.edu.co/article/download/1339/1264 https://revfinypolecon.ucatolica.edu.co/article/download/1339/2092 https://revfinypolecon.ucatolica.edu.co/article/download/1339/2357 2011-7663 2248-6046 57 2016-01-01 2017-01-01T00:00:00Z 67 |
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UNIVERSIDAD CATÓLICA DE COLOMBIA |
| thumbnail |
https://nuevo.metarevistas.org/UNIVERSIDADCATOLICADECOLOMBIA/logo.png |
| country_str |
Colombia |
| collection |
Revista Finanzas y Política Económica |
| title |
Efectos del desarrollo financiero sobre el crecimiento económico de Colombia y Chile, 1982-2014. |
| spellingShingle |
Efectos del desarrollo financiero sobre el crecimiento económico de Colombia y Chile, 1982-2014. Támara Ayús, Armando Lenin Eusse Ossa, Lina María Castellón Pérez, Andrés Desarrollo financiero Crecimiento económico Panel de datos Transformación de prais-winten Crescimento econômico Desenvolvimento financeiro Painel de dados Transformação de prais-winten Economic growth Financial development Prais-winsten transformation Data panel |
| title_short |
Efectos del desarrollo financiero sobre el crecimiento económico de Colombia y Chile, 1982-2014. |
| title_full |
Efectos del desarrollo financiero sobre el crecimiento económico de Colombia y Chile, 1982-2014. |
| title_fullStr |
Efectos del desarrollo financiero sobre el crecimiento económico de Colombia y Chile, 1982-2014. |
| title_full_unstemmed |
Efectos del desarrollo financiero sobre el crecimiento económico de Colombia y Chile, 1982-2014. |
| title_sort |
efectos del desarrollo financiero sobre el crecimiento económico de colombia y chile, 1982-2014. |
| title_eng |
The impacts of financial development on economic growth in Colombia and Chile, 1982-2014. |
| description |
Este artículo analiza la validez y relevancia de las variables propuestas por King y Levine (1993) en el caso específico de Colombia y Chile; para ello, utiliza un modelo de datos de panel como una estrategia para encontrar posibles efectos significativos de las variables financieras sobre el crecimiento en ambos países, no solo considerando su comportamiento en el tiempo, sino también la existencia de heterogeneidades entre ambos. Los resultados muestran de manera parcial cómo algunas de sus variables tienen efectos distinguibles en el desempeño y crecimiento de la economía.
|
| description_eng |
This article analyzes the validity and relevance of the variables proposed by King and Levine (1993) in the specific case of Colombia and Chile; for this effect, it uses a panel data model as a strategy to find possible significant impacts of the financial variables on growth in both countries, not only considering their behavior over time, but also the existence of heterogeneities among them. The results partially show how some of the variables have distinguishable impacts on economic performance and growth.
|
| author |
Támara Ayús, Armando Lenin Eusse Ossa, Lina María Castellón Pérez, Andrés |
| author_facet |
Támara Ayús, Armando Lenin Eusse Ossa, Lina María Castellón Pérez, Andrés |
| topicspa_str_mv |
Desarrollo financiero Crecimiento económico Panel de datos Transformación de prais-winten Crescimento econômico Desenvolvimento financeiro Painel de dados Transformação de prais-winten |
| topic |
Desarrollo financiero Crecimiento económico Panel de datos Transformación de prais-winten Crescimento econômico Desenvolvimento financeiro Painel de dados Transformação de prais-winten Economic growth Financial development Prais-winsten transformation Data panel |
| topic_facet |
Desarrollo financiero Crecimiento económico Panel de datos Transformación de prais-winten Crescimento econômico Desenvolvimento financeiro Painel de dados Transformação de prais-winten Economic growth Financial development Prais-winsten transformation Data panel |
| citationvolume |
9 |
| citationissue |
1 |
| publisher |
Universidad Católica de Colombia |
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Revista Finanzas y Política Económica |
| source |
https://revfinypolecon.ucatolica.edu.co/article/view/1339 |
| language |
Español |
| format |
Article |
| rights |
Armando Lenin Támara Ayús, Lina María Eusse Ossa, Andrés Castellón Pérez - 2017 http://purl.org/coar/access_right/c_abf2 info:eu-repo/semantics/openAccess https://creativecommons.org/licenses/by-nc-sa/4.0/ |
| references |
De Gregorio, J. y Guidotti, P. E. (1995). Financial development and economic growth. World Development, 23(3), 433-448. Doi: 10.1016/0305-750X(94)00132-I King, R. G., y Levine, R. (1993). Finance and Growth: Schumpeter Might be Right. The Quarterly Journal of Economics, 108(3), 717-737. Doi: 10.2307/2118406 Programa de las Naciones Unidas para el Desarrollo (PNUD) (2015). Informe sobre desarrollo humano. Nueva York: Autor. Greenwood, J., y Jovanovic, B. (1990). Financial Development, Growth, and the Distribution of Income. Journal of Political Economy, 98(5), 1076-1107. Doi: 10.2307/2937625 Goldsmith, R. W. (1969). Financial structure and development. New Heaven: Yale University Press. Giovannini, A. y Melo, M. (1993). Government Revenue from Financial Repression. The American Economic Review, 83(4), 953-963. Doi: 10.2307/2117587 Demetriades, P. O., y Hussein, K. A. (1996). Does financial development cause economic growth? Timeseries evidence from 16 countries. Journal of Development Economics, 51(2), 387-411. Doi: 10.1016/S0304-3878(96)00421-X Concha, Á. y Taborda, R. (2014). Insurance use and economic growth in Latin America. Some panel data evidence. Recuperado de https://ideas.repec.org/a/lde/journl/y2014i81p31-55.html Levine, R., y Renelt, D. (1992). A Sensitivity Analysis of Cross-Country Growth Regressions. The American Economic Review, 82(4), 942-963. Doi: 10.2307/2117352 Claessens, S., Dell?Ariccia, G., Igan, D. y Laeven, L. (2010). Cross-country experiences and policy implications form the global financial crisis. Economic Policy, 62, 267-293. Chang, T. Y., Lee, C. C. y Chang, C. H. (2014). Does insurance activity promote economic growth? Further evidence based on bootstrap panel Granger causality test. European Journal of Finance, 20(12), 1187-1210. Doi: 10.1080/1351847x.2012.757555 Castro, F., Kalatzis, A. E. G. y Martins-Filho, C. (2015). Financing in an emerging economy: Does financial development or financial structure matter? Emerging Markets Review, 23, 96-123. Doi: 10.1016/j. ememar.2015.04.012 Bencivenga, V. R. y Smith, B. D. (1991). Financial intermediation and endogenous growth. The Review of Economic Studies, 58(2), 195-209. Doi: 10.2307/2297964 Barro, R. J. (1991). Economic growth in a cross section of countries. The Quarterly Journal of Economics, 106(2), 407-443. Doi: 10.2307/2937943 Baltagi, B. H., Seuck, H. S., Byoung, C. J. y Won, K. (2007). Testing for serial correlation, spatial autocorrelation and random effects using panel data. Journal of Econometrics, 140(1), 5-51. Baltagi, B. H. y Long, L. (2012). The Hausman-Taylor panel data model with serial correlation. Recuperado de http://surface.syr.edu/cgi/viewcontent.cgi?article=1188&context=cpr Levine, R. (1991). Stock markets, growth, and tax policy. The Journal of Finance, 46(4), 1445-1465. Doi: 10.2307/2328866 Luintel, K. B., Khan, M., Arestis, P. y Theodoridis, K. (2008). Financial structure and economic growth. Journal of Development Economics, 86, 181-200. McKinnon, R. I. (1973). Money and capital in economic development. The American Political Science Review, 68(4), 1822-1824 Wooldridge, J. M. (2002). Econometric analysis of cross section and panel data. Cambridge: Instituto Tecnológico de Massachusetts. Trew, A. (2006). Finance and Growth: A critical survey. Economic Record, 82(259), 481-490. Doi:10.1111/j.1475-4932.2006.00361.x Schumpeter, J. A. (1911). Theory of economic development. Cambridge: Harvard University Press. Prahalad, C. K. y Hammond, A. (2002). Serving the world?s poor, profitably. Recuperado de http://www.ima.kth.se/utb/MJ2693/pdf/serving.pdf Ono, S. (2012). Financial Development and Economic Growth: Evidence from Russia. Europe-Asia Studies, 64(2), 247-256. Doi: 10.1080/09668136.2012.635484 Mehic, E., Silajdzic, S., y Babic-Hodovic, V. (2013). The Impact of FDI on Economic Growth: Some Evidence From Southeast Europe. Emerging Markets Finance and Trade, 49, 5-20. Asongu, S. A. (2015). Finance and growth: new evidence from meta-analysis. Managerial Finance, 41(6), 615. |
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