FINANCE, GROWTH, AND INSTITUTIONS IN LATIN AMERICA: WHAT ARE THE LINKS?

FINANCE, GROWTH, AND INSTITUTIONS IN LATIN AMERICA: WHAT ARE THE LINKS?

Using a panel of 16 countries during the 1961-2010 period, we find that financial development has a positive significant effect on economic growth in the long run for high-income countries but a negative significant effect for low-income countries. When studying the determinants of financial develop...

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Autor principal: BLANCO,LUISA
Lenguaje:English
Publicado: Pontificia Universidad Católica de Chile. Instituto de Economía. 2013
Materias:
Financial development
economic growth
institutions
political stability
Latin America
Acceso en línea:http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0719-04332013000200002
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spelling oai:scielo:S0719-043320130002000022014-01-29FINANCE, GROWTH, AND INSTITUTIONS IN LATIN AMERICA: WHAT ARE THE LINKS?BLANCO,LUISA Financial development economic growth institutions political stability Latin America Using a panel of 16 countries during the 1961-2010 period, we find that financial development has a positive significant effect on economic growth in the long run for high-income countries but a negative significant effect for low-income countries. When studying the determinants of financial development, we find that higher financial openness and lower country risk are associated with greater financial development. The financial risk index has a positive significant effect on financial development, while the economic risk index has a negative significant effect. In addition, lower foreign debt and better socioeconomic conditions increase financial development.info:eu-repo/semantics/openAccessPontificia Universidad Católica de Chile. Instituto de Economía.Latin american journal of economics v.50 n.2 20132013-11-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0719-04332013000200002en
institution Scielo Chile
collection Scielo Chile
language English
topic Financial development
economic growth
institutions
political stability
Latin America
spellingShingle Financial development
economic growth
institutions
political stability
Latin America
BLANCO,LUISA
FINANCE, GROWTH, AND INSTITUTIONS IN LATIN AMERICA: WHAT ARE THE LINKS?
description Using a panel of 16 countries during the 1961-2010 period, we find that financial development has a positive significant effect on economic growth in the long run for high-income countries but a negative significant effect for low-income countries. When studying the determinants of financial development, we find that higher financial openness and lower country risk are associated with greater financial development. The financial risk index has a positive significant effect on financial development, while the economic risk index has a negative significant effect. In addition, lower foreign debt and better socioeconomic conditions increase financial development.
author BLANCO,LUISA
author_facet BLANCO,LUISA
author_sort BLANCO,LUISA
title FINANCE, GROWTH, AND INSTITUTIONS IN LATIN AMERICA: WHAT ARE THE LINKS?
title_short FINANCE, GROWTH, AND INSTITUTIONS IN LATIN AMERICA: WHAT ARE THE LINKS?
title_full FINANCE, GROWTH, AND INSTITUTIONS IN LATIN AMERICA: WHAT ARE THE LINKS?
title_fullStr FINANCE, GROWTH, AND INSTITUTIONS IN LATIN AMERICA: WHAT ARE THE LINKS?
title_full_unstemmed FINANCE, GROWTH, AND INSTITUTIONS IN LATIN AMERICA: WHAT ARE THE LINKS?
title_sort finance, growth, and institutions in latin america: what are the links?
publisher Pontificia Universidad Católica de Chile. Instituto de Economía.
publishDate 2013
url http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0719-04332013000200002
work_keys_str_mv AT blancoluisa financegrowthandinstitutionsinlatinamericawhatarethelinks
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