Crecimiento Económico, banca y desarrollo financiero: evidencia internacional

Abstract

We study the relationships among economic growth, banking and fi- nancial development using dynamic panel-data techniques. The main findings confirmthat financial development is positively correlatedwith growth. They also suggest that banks have indirect and differenti- ated effects on growth through financial development. Banking con- centration and income-cost ratios are positively correlated with finan- cial development; interest net margins are negatively correlated. Fur- thermore, we quantify the growth imputable to changes in financial intermediation for Argentina, Colombia, Mexico and Peru. We use comparable indicators for 78 economies between 1986 and 2009.