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Desarrollo financiero y crecimiento económico: una visión crítica
| Content Provider | Semantic Scholar |
|---|---|
| Author | Fitzgerald, Valpy |
| Copyright Year | 2007 |
| Abstract | espanolEl desarrollo financiero precisa de la creacion y expansion de instituciones, instrumentos y mercados que apoyen el proceso de inversion y crecimiento. El presente articulo expone la teoria y la practica de las relaciones entre desarrollo financiero y crecimiento economico -que son la base del "nuevo modelo homologado" de reforma financiera en los paises en desarrollo- y analiza las crecientes pruebas empiricas que sugieren que esta relacion no es tan estrecha ni tan unidireccional como suele suponerse y que no ofrece una base solida y clara sobre la que sustentar las prescripciones del nuevo modelo homologado. Asimismo se abordan en detalle dos asuntos fundamentales: el efecto de la reforma financiera sobre el ahorro y la inversion, y sus consecuencias para la estabilidad macroeconomica. Finalmente se explican las implicaciones de politica economica de los argumentos y pruebas analizadas. EnglishFinancial development involves the establishment and expansion of institutions, instruments and markets that support the investment and growth process. This article shall set out the theory and empirics on the relationship between financial development and economic growth -which underpin the "new standard model" of financial reform in developing countries- and examine the growing empirical evidence that suggests that this relationship is not so close or as unidirectional as is usually supposed, and does not provide a sound evidential basis for the prescriptions of the new standard model. Moreover, it shall tackle with two central issues in more detail: the effect of financial reform on savings and investment; and the consequences for macroeconomic stability. It shall finally offer some policy implications of the arguments and evidence presented. |
| Starting Page | 5 |
| Ending Page | 30 |
| Page Count | 26 |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | https://www.fundacionsistema.com/wp-content/uploads/2015/05/PPIOS7_Valpy-FitzGerald.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
