The Financial System, Bussiness Cycles and Growth
Los economistas han reconocido desde hace mucho tiempo la importancia del sistema financiero. Muchas de las discusiones tratan al sistema financiero aisladamente, o lo relacionan sólo superficialmente a la macroeconomía. Este artículo discute los intrincados lazos entre el sistema financiero y la macroeconomía. El principal resultado de los modelos microeconómicos de finanzas desarrollados en el pasado cuarto de siglo han mostrado cuan diferente es el sector financiero de otros sectores, incluyendo la persistencia de situaciones de no equilibrio en los mercados y equilibrios ineficientes. Aquí hay una aplicación de esas ideas a una discusión de los modelos macroeconómicos basados en finanzas, usándolos para arrojar luz sobre las causas de las fluctuaciones cíclicas de los negocios y algunos de los determinantes del crecimiento. Finalmente, en la última parte de la discusión hay algunas respuestas a desarrollos en flujos de capitales internacionales, incluyendo las cuestiones de convertibilidad de la cuenta de capital y la respuesta a crisis.
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| Length: | 22 pages |
| Date of creation: | 01 Mar 1999 |
| Handle: | RePEc:ris:uadetd:1999_002 |
| Contact details of provider: | Web page: http://www.uade.edu.ar/paginas/InstEconomiaIDE.aspx More information through EDIRC
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References listed on IDEAS
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- Shleifer, Andrei & Vishny, Robert W., 1989. "Management entrenchment : The case of manager-specific investments," Journal of Financial Economics, Elsevier, vol. 25(1), pages 123-139, November.
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