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Microcrédito Y Crecimiento Regional En El Perú

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  • Guivanna Aguilar

    ()
    (Departamento de Economía - Pontificia Universidad Católica del Perú)

Abstract

The objective of this study is to make a quantitative evaluation of the impact that the expansion of the microcredit has had on the growth of the economic activity in the Peruvian regions. Having as a theoretical framework the developed theory to analyze the relationship between economic growth and financial development and with annual information for 24 regions of the country in period 2001 - 2008, a panel data model is estimated with per capita GDP growth like dependent variable and the loans provided by various types of microfinance institutions, the loans of the commercial banks and other variables that affect the economic growth like explanatory variables. The found evidence suggests that the microfinancial expansion has a positive impact in the growth of the economic activity of the regions unlike which it happens with the expansion of the banking intermediation. A comparative static exercise show that if the loans of CMAC, CRAC and specialized banks get to rich 10% of the GDP in each region, the rate of growth of the GDP per capita would rise in at least 4 percentage points. In the regions with greater poverty increase is more impressive and significant.

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Bibliographic Info

Paper provided by Departamento de Economía - Pontificia Universidad Católica del Perú in its series Documentos de Trabajo with number 2011-317.

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Length: pages
Date of creation: 2011
Date of revision:
Publication status: published
Handle: RePEc:pcp:pucwps:wp00317

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Postal: Av. Universitaria 1801, San Miguel, Lima, Perú
Phone: (511) 626-2000 ext. 4950, 4951
Fax: (511) 626-2874
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Web page: http://www.pucp.edu.pe/departamento/economia/
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Keywords: Microfinanzas; intermediarios financieros; cajas municipales; cajas rurales; crecimiento regional.;

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  1. Kleibergen, F.R. & Paap, R., 2003. "Generalized Reduced Rank Tests using the Singular Value Decomposition," Econometric Institute Research Papers EI 2003-01, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
  2. Beck, Thorsten & Demirguc-Kunt, Asli & Laeven, Luc & Maksimovic, Vojislav, 2006. "The determinants of financing obstacles," Journal of International Money and Finance, Elsevier, vol. 25(6), pages 932-952, October.
  3. Luigi Guiso & Paola Sapienza & Luigi Zingales, 2002. "Does Local Financial Development Matter?," NBER Working Papers 8923, National Bureau of Economic Research, Inc.
  4. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Wiley Blackwell, vol. 58(2), pages 277-97, April.
  5. Paul M Romer, 1999. "Increasing Returns and Long-Run Growth," Levine's Working Paper Archive 2232, David K. Levine.
  6. Paul Romer, 1989. "Endogenous Technological Change," NBER Working Papers 3210, National Bureau of Economic Research, Inc.
  7. Greenwood, Jeremy & Jovanovic, Boyan, 1990. "Financial Development, Growth, and the Distribution of Income," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 1076-1107, October.
  8. Ross Levine, 2008. "Finance And The Poor," Manchester School, University of Manchester, vol. 76(s1), pages 1-13, 09.
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