Sistema Financeiro E Crescimento Econômico: Uma Aplicação De Regressão Quantílica
This work has as objective to analyze the supposed existing positive relation between financial development and economic growth. The financial system influences the economic growth due to the functions that it plays, such as: ) the mobilization of resources; b) allocation of the resources in the space and the time; c) administration of the risk; d) selection and monitoration of firms; and e) production and spreading of information. It was applied technique of quantile regression to analyze these aspects for data of 77 countries, what it allowed a more complete mapping of the impact generated for the measures of financial development in the conditional distribution of the response varieble (measured of economic growth). The estimates allow us to conclude that: ) it has a positive relation between financial development and economic growth; and b) bigger the quantil (that is, greater the ratio of economic growth) bigger is the contribution of the financial system for the economic growth.
|Date of creation:||2004|
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