Ir al contenido

Documat


Interacción entre crecimiento económico, estabilidad e inclusión financiera: evidencia empírica internacional

  • Tomás Gómez Rodríguez [1] ; Humberto Ríos Bolívar [2] ; Adriana Zambrano Reyes [1]
    1. [1] Universidad Autónoma del Estado de Hidalgo

      Universidad Autónoma del Estado de Hidalgo

      México

    2. [2] Instituto Politécnico Nacional

      Instituto Politécnico Nacional

      México

  • Localización: Contaduría y administración, ISSN 0186-1042, ISSN-e 2448-8410, Vol. 66, Nº. 1, 2021
  • Idioma: español
  • DOI: 10.22201/fca.24488410e.2021.2498
  • Títulos paralelos:
    • Interaction between economic growth, stability and financial inclusion: International empirical evidence
  • Enlaces
  • Resumen
    • español

      Empleando una muestra de 71 países y un período que abarca desde 2007 al 2016. Se analiza la relación entre inclusión financiera y crecimiento económico, así como la relación entre estabilidad financiera y crecimiento económico empleando el método de Mínimos Cuadrados Ordinarios (MCO) con efectos fijos de dos vías. Así mismo, como prueba de robustez se emplea el Método Generalizado de Momentos (GMM) con efectos fijos de dos vías. Además, se realiza la prueba de causalidad de Granger con el método de datos apilados desarrollado por Dumitrescu y Hurlin (2012).

      Los resultados sugieren la existencia de un nexo negativo tanto para la relación entre inclusión financiera y crecimiento económico, así como para la relación entre estabilidad financiera y crecimiento económico. Los resultados de la prueba de causalidad exhiben que la relación se extiende desde las variables de inclusión financiera hacia el crecimiento económico. Mientras que la relación para las variables de estabilidad se extiende desde el crecimiento económico hacia estas variables

    • English

      Using a sample of 71 countries and a period that covers from 2007 to 2016. The relationship between financial inclusion and economic growth is analyzed, as well as the relationship between financial stability and economic growth using the Ordinary Least Squares (OLS) method with two-way fixed effects. Likewise, the Generalized Method of Moments (GMM) with two-way fixed effects is used as a robustness test. In addition, the Granger causality test is performed with the stacked data method developed by Dumitrescu y Hurlin (2012). The results suggest the existence of a negative link both for the relationship between financial inclusion and economic growth, as well as for the relationship between financial stability and economic growth. The results of the causality test show that the relationship extends from the variables of financial inclusion to economic growth. While the relationship for stability variables extends from economic growth to these variables.

  • Referencias bibliográficas
    • Acharya, D. Amanulla, S. & Joy, S. (2009), Financial development and economic growth in Indian states: an examination, International Research...
    • Aboura, S. & van Roye, B. (2017). Financial stress and economic dynamics: The case of France. International Economics, 149, 57–73. http://dx.doi.org/10.1016/j.inteco.2016.11.001.
    • Alsamara, M., Mrabet, Z., Jarallah, S. & Barkat, K. (2018). The switching impact of financial stability and economic growth in Qatar:...
    • Angadi, V.B. (2003), Financial infrastructure and economic development: theory, evidence and experience. RBI Occasional Papers, 24 (1), pp....
    • Arellano, M., & Bond, S. (1991). Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations....
    • Arora, R. (2010), Measuring Financial Access, Discussion Papers in Economics. (Disponible en: https://www120. secure.griffith.edu.au/research/file/fd0408e2-75c5-c430-ea2d-2fe7274a467f/1/2010-07-measuring-financial-access.pdf)...
    • Batuo, M., Mlambo, K., & Asongu, S. (2018). Linkages between financial development, financial instability, financial liberalisation and...
    • Carbó, S. & Pedagua, L. (2013). Financial Stability and Economic Growth. Crisis, Risk and Stability in Financial Markets, 8–23. http://dx.doi.org/10.1057/9781137001832_2.
    • Chattopadhyay, S. (2011) Financial Inclusion in India: A case-study of West Bengal. MPRA Paper 34269. (Disponible en: https://mpra.ub.unimuenchen.de/34269/1/MPRA_paper_34269.pdf)...
    • Claessens, S. & Perotti, E. (2007). Finance and inequality: Channels and evidence. Journal of Comparative Economics, 35(4), 748–773. http://dx.doi.org/10.1016/j.jce.2007.07.002.
    • Creel, J., Hubert, P. & Labondance, F. (2015). Financial stability and economic performance. Economic Modelling, 48, 25–40. http://dx.doi.org/10.1016/j.econmod.2014.10.025.
    • Demirguc-Kunt, A. & Klapper, L. (2012). Measuring Financial Inclusion: The Global Findex Database. Policy Research Working Papers. http://dx.doi.org/10.1596/1813-9450-6025.
    • Demirguc-Kunt, A., Klapper, L. & Singer, D. (2017). Financial inclusion and inclusive growth : a review of recent empirical evidence....
    • Demirguc-Kunt, A., Klapper, L. Singer D. & Van Oudheusden. P. (2015). The Global Findex Database 2014: Measuring Financial Inclusion Around...
    • Diamond, D. & Dybvig, P. (1983). Bank Runs, Deposit Insurance, and Liquidity. Journal of Political Economy, 91(3), 401–419. http://dx.doi.org/10.1086/261155.
    • Diniz, E., Birochi, R., & Pozzebon, M. (2012). Triggers and barriers to financial inclusion: The use of ICT-based branchless banking in...
    • Dumitrescu, E.-I., & Hurlin, C. (2012). Testing for Granger non-causality in heterogeneous panels. Economic Modelling, 29(4), 1450–1460....
    • Dupas, P. & Robinson, J. (2013). Savings Constraints and Microenterprise Development: Evidence from a Field Experiment in Kenya. American...
    • Duprey, T., Klaus, B. & Peltonen, T. (2017). Dating systemic financial stress episodes in the EU countries. Journal of Financial Stability,...
    • Ellis, K., Lemma, A. & Rudd, J. (2010). Financial inclusion, household investment and growth in Kenya and Tanzania. Project Briefing,...
    • Ghosh, S. (2011). Does financial outreach engender economic growth? Evidence from Indian states. Journal of Indian Business Research, 3(2),...
    • Goldsmith, R.W. (1969), Financial Structure and Development. (1ª ed). New Haven: Yale University Press.
    • Granger, C. W. J. (1969). Investigating Causal Relations by Econometric Models and Cross-spectral Methods. Econometrica, 37(3), 424. http://dx.doi.org/10.2307/1912791.
    • Greenwood, J. & Jovanovic, B. (1990). Financial Development, Growth, and the Distribution of Income. Journal of Political Economy, 98(5)....
    • Gurley, J. & Shaw, E. (1955). Financial Aspects of Economic Development. The American Economic Review, 45(4), 515-538. (Disponible en:...
    • Jayakumar, M., Pradhan, R. P., Dash, S., Maradana, R. P. & Gaurav, K. (2018). Banking competition, banking stability, and economic growth:...
    • Kim, D.-W., Yu, J.-S., & Hassan, M. K. (2018). Financial inclusion and economic growth in OIC countries. Research in International Business...
    • Mckinnon, R. I. (1973). Money and Capital in Economic Development. (1ª ed). Washington,DC Brookings Institution Press.
    • Mehrotra, A. & Yetman, J. (2015). Financial inclusion-issues for central Banks. BISQuarterly Review, marzo. (Disponible en: https://www.bis.org/publ/qtrpdf/r_qt1503h.htm)...
    • Mishkin, F. S. (1992). Anatomy of a financial crisis. Journal of Evolutionary Economics, 2(2), 115–130. http:// dx.doi.org/10.1007/bf01193536.
    • Neaime, S. & Gaysset, I. (2018). Financial inclusion and stability in MENA: Evidence from poverty and inequality. Finance Research Letters,...
    • Pradhan, R. P., Arvin, M. B., Hall, J. H. & Nair, M. (2016). Innovation, financial development and economic growth in Eurozone countries....
    • Park, C.-Y. & Mercado, R. (2018). Financial Inclusion: New Measurement and Cross-Country Impact Assessment. SSRN Electronic Journal. http://dx.doi.org/10.2139/ssrn.3199427.
    • Prasad, E. (2010). Financial Sector Regulation and Reforms in Emerging Markets: An Overview. http://dx.doi. org/10.3386/w16428.
    • Rajan, R.G. (2009). (1ª ed). A Hundred Small Steps – Report of the Committee on Financial Sector Reforms, New Delhi Planning Commission, Government...
    • Sarma, M. (2008). Index of Financial Inclusion, New Delhi Working Papers No. 215. (Disponible en: http://www. icrier.org/pdf/Working_Paper_215.pdf)...
    • Sarma, M. (2012). Index of Financial Inclusion a measure of financial sector inclusiveness. Competence Centre on Money, Trade, Finance and...
    • Sarma, M. & Pais, J. (2010). Financial Inclusion and Development. Journal of International Development, 23(5), 613–628. http://dx.doi.org/10.1002/jid.1698.
    • Sethi, D. & Acharya, D. (2018). Financial inclusion and economic growth linkage: some cross country evidence. Journal of Financial Economic...
    • Sethy, S. K. (2015). Developing a Financial Inclusion Index and Inclusive Growth in India. The Indian Economic Journal, 63(2), 283–311. http://dx.doi.org/10.1177/0019466220150210.
    • Sethi, D. & Sethy, S. K. (2019). Financial inclusion matters for economic growth in India. International Journal of Social Economics,...
    • Sharma, D. (2016). Nexus between financial inclusion and economic growth. Journal of Financial Economic Policy, 8(1), 13–36. http://dx.doi.org/10.1108/jfep-01-2015-0004.
    • Yorulmaz, R. (2013), “Construction of a regional financial inclusion index in Turkey”, Journal of BRSA Banking and Financial Markets, 7 (1)....

Fundación Dialnet

Mi Documat

Opciones de artículo

Opciones de compartir

Opciones de entorno