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Finance and Growth in Brazil

Author

Listed:
  • Alexandre Rands Barros

    () (Universidade Federal de Pernambuco)

Abstract

This paper uses the fact that there are different accesses to financial markets in Brazilian counties to test the hypothesis that finance development has a positive impact on GDP growth, through some cross section regressions with data for them. The advantage of such tests with respect to those relying on cross country regressions is that there are not institutional differences that are strongly correlated with finance development proxies. Therefore, the tests forwarded are able to better disentangle the impact of finance development from institutional effects. The results confirm the hypothesis that finance development boosts economic growth, although it is not possible to identify if this effect is only temporary, while the economy is in a transitional dynamics or if its impact is on the equilibrium growth rate.

Suggested Citation

  • Alexandre Rands Barros, 2009. "Finance and Growth in Brazil," Working Papers 47, Datamétrica Consultoria Econômica, revised 2009.
  • Handle: RePEc:dtm:wpaper:47
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    File URL: ftp://repec.datametrica.com.br/RePEc/dtm/wpaper/FinanceandGrowthinBrazil47.pdf
    File Function: Revised version, 2009.
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    Cited by:

    1. Pasali, Selahattin Selsah, 2013. "Where is the cheese ? synthesizing a giant literature on causes and consequences of financial sector development," Policy Research Working Paper Series 6655, The World Bank.

    More about this item

    Keywords

    Economic growth; finance development; growth regressions; finance and growth.;

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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