IDEAS home Printed from https://ideas.repec.org/a/elt/journl/v73y2006i291p429-478.html
   My bibliography  Save this article

Por qué importan las instituciones. La banca y el crecimiento económico en México

Author

Listed:
  • Haber, Stephen

    (Universidad de Stanford)

Abstract

If finance is crucial to growth, as a large literature has demonstrated, then why is there wide variance in financial development across countries? Why have governments not put the appropriate policies into place to encourage the development of banks and securities markets? This paper addresses this question by exploring the development of the Mexican banking system from the 1880s to the present. It argues that the institutions that encourage financial development cannot be created at the stroke of a pen. Rather, the creation of institutions that encourage financial development are dependent upon other institutions that limit the authority and discretion of the government. In short, political institutions that constrain government are a necessary condition for economic growth.// Si el sistema financiero es importante para el crecimiento como se ha demostrado en la bibliografía, entonces es pertinente preguntarse por qué hay una gran varianza en el desarrollo financiero entre los países. En otras palabras, ¿por qué los gobiernos no han impulsado las políticas públicas apropiadas para desarrollar el sector financiero y con ello el crecimiento? El artículo intenta responder estas preguntas explorando el desarrollo del sistema financiero mexicano desde 1880 hasta el presente. El argumento es que las instituciones que motivan e impulsan este desarrollo no pueden ser creadas de la noche a la mañana. La creación de esas instituciones depende en gran medida de otras instituciones que limitan la autoridad y discreción del propio gobierno. En suma, las instituciones políticas que limitan el accionar discrecional del gobierno son una condición necesaria para impulsar el desarrollo financiero y por ende el crecimiento económico.

Suggested Citation

  • Haber, Stephen, 2006. "Por qué importan las instituciones. La banca y el crecimiento económico en México," El Trimestre Económico, Fondo de Cultura Económica, vol. 0(291), pages 429-478, julio-sep.
  • Handle: RePEc:elt:journl:v:73:y:2006:i:291:p:429-478
    DOI: http://dx.doi.org/10.20430/ete.v73i291.330
    as

    Download full text from publisher

    File URL: http://www.eltrimestreeconomico.com.mx/index.php/te/article/view/330/376
    Download Restriction: no

    More about this item

    Keywords

    instituciones; sistemas financieros; crecimiento económico;

    JEL classification:

    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative
    • N26 - Economic History - - Financial Markets and Institutions - - - Latin America; Caribbean

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:elt:journl:v:73:y:2006:i:291:p:429-478. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Enrique Popoca). General contact details of provider: http://www.fondodeculturaeconomica.com/ .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.