TY - JOUR
T1 - Impacto de la capitalización bursátil y del spread bancario sobre el crecimiento y el desarrollo en América Latina
T2 - una estimación de datos de panel con MGM-sistema
AU - Aali-Bujari, Ali
AU - Venegas-Martínez, Francisco
AU - Pérez-Lechuga, Gilberto
N1 - Publisher Copyright:
© 2017 Universidad Nacional Autónoma de México, Facultad de Contaduría y Administración
PY - 2017/12
Y1 - 2017/12
N2 - This research is aimed at assessing the impact of the stock market capitalization and the banking spread in per capita economic growth (as a proxy of economic development) in the major Latin American economies during period 1994–2012. To do this, a panel data model is estimated with both system and difference Generalized Method of Moments. The main empirical findings are that economic growth in the countries under study is positively impacted by the stock market capitalization and negatively by the banking spread. Typical problems of multicollinearity and autocorrelation appearing in panel data analysis are corrected under the proposed methodology.
AB - This research is aimed at assessing the impact of the stock market capitalization and the banking spread in per capita economic growth (as a proxy of economic development) in the major Latin American economies during period 1994–2012. To do this, a panel data model is estimated with both system and difference Generalized Method of Moments. The main empirical findings are that economic growth in the countries under study is positively impacted by the stock market capitalization and negatively by the banking spread. Typical problems of multicollinearity and autocorrelation appearing in panel data analysis are corrected under the proposed methodology.
KW - Economic development
KW - Economic growth
KW - Financial sector
KW - Panel data
UR - http://www.scopus.com/inward/record.url?scp=85032975656&partnerID=8YFLogxK
U2 - 10.1016/j.cya.2017.09.005
DO - 10.1016/j.cya.2017.09.005
M3 - Artículo
SN - 0186-1042
VL - 62
SP - 1427
EP - 1441
JO - Contaduria y Administracion
JF - Contaduria y Administracion
IS - 5
ER -