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Globalización financiera y sus efectos sobre el desarrollo financiero

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  • Edgar Demetrio Tovar

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 desempene mejorsus funciones de control corporativo y reunión de ahorro, pero perjudica las funciones de proporcionar información y diversificar el riesgo.

Suggested Citation

  • Edgar Demetrio Tovar, 2011. "Globalización financiera y sus efectos sobre el desarrollo financiero," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, vol. 29(66), pages 80-127, December.
    • Handle: RePEc:col:000107:010040
    DOI: 10.32468/Espe.6603
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    Cited by:

    1. Víctor Alexander Díaz, 2014. "Crédito privado, crédito bancario y producto interno bruto: evidencia para una muestra suramericana," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 32(73), pages 104-126, July.
    2. Humberto Banda-Ortiz & Edgar Demetrio Tovar-García, 2018. "Impacto de la estructura tributaria sobre el crecimiento económico: el caso de México," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 13(4), pages 585-601, Octubre-D.
    3. Edgar Demetrio Tovar-García, 2016. "Exposure to interbank market and risk-taking by Mexican banks," Cuadernos de Economía - Spanish Journal of Economics and Finance, Asociación Cuadernos de Economía, vol. 39(111), pages 157-174, Septiembr.
    4. Edgar Demetrio Tovar García, 2012. "Financial globalization and financial development in Latin America," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, August.

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    More about this item

    Keywords

    globalización financiera; desarrollo financiero; desarrollo económico; panel de datos dinámico; estimador general de momentos;
    All these keywords.

    JEL classification:

    • F39 - International Economics - - International Finance - - - Other
    • G19 - Financial Economics - - General Financial Markets - - - Other
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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