CRÉDITO BANCÁRIO E ATIVIDADE ECONÔMICA: EVIDÊNCIAS EMPÍRICAS PARA A PRODUÇÃO INDUSTRIAL NO ESTADO DE SÃO PAULO

Daniel Reichstul and Gilberto Lima

Anais do XXXIII Encontro Nacional de Economia [Proceedings of the 33rd Brazilian Economics Meeting] from ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics]

Abstract: This study contributes to the understanding of the causality between different credit measures and indicators of economic activity in the State of São Paulo. Questions have been raised as to the prevailing Granger-causality for national economies, and a regional approach that has not yet been followed in the empirical literature is pursued here. More precisely, it is dealt with the relationship between different credit modalities and diverse aspects of São Paulo´s industrial output over the period from January 1995 to December 2003, by using both a multivariate and a bivariate Autoregressive Vector model (VAR). The results show that such a dimension of the the local financial development has followed industrial development.

JEL-codes: G21 R11 R12 (search for similar items in EconPapers)
Date: 2005
New Economics Papers: this item is included in nep-fin, nep-fmk and nep-geo
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Persistent link: https://EconPapers.repec.org/RePEc:anp:en2005:119

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