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Globalización financiera y sus efectos sobre el desarrollo financiero

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  • Edgar Demetrio Tovar

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Abstract

El artículo muestra la evidencia empírica sobre el nexo globalización financiera-desarrollo financiero, así como la relación teórica entre ambos, dada la relevancia queello tiene con los procesos de crecimiento y desarrollo económico. Se elabora una prueba empírica novedosa, en tanto que utiliza nuevos indicadores de globalizaciónfinanciera y desarrollo financiero más cercanos al marco conceptual y teórico, así como un tratamiento diferente en la inclusión de variables institucionales. Se emplea un modelo dinámico con datos de panel, cuyos principales resultados indican que la globalización financiera favorece al sistema financiero para que este desempeñe mejorsus funciones de control corporativo y reunión de ahorro, pero perjudica las funciones de proporcionar información y diversificar el riesgo.

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Bibliographic Info

Article provided by BANCO DE LA REPÚBLICA - ESPE in its journal ENSAYOS SOBRE POLÍTICA ECONÓMICA.

Volume (Year): (2011)
Issue (Month): ()
Pages:

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Handle: RePEc:col:000107:010040

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Keywords: globalización financiera; desarrollo financiero; desarrollo económico; panel de datos dinámico; estimador general de momentos;

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