Impact of the Stock Market Capitalization and the Banking Spread in Growth and Development in Latin American: A Panel Data Estimation with System GMM

Alí Aali-Bujari, Francisco Venegas-Martínez and Gilberto Pérez-Lechuga

MPRA Paper from University Library of Munich, Germany

Abstract: 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 the 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. Finally, typical problems of multicollinearity and autocorrelation appearing in panel data analysis are corrected under the proposed methodology.

Keywords: Economic growth; economic development; financial sector; panel data (search for similar items in EconPapers)
JEL-codes: O54 (search for similar items in EconPapers)
Date: 2014-06-11
New Economics Papers: this item is included in nep-lam
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/56588/1/MPRA_paper_56588.pdf original version (application/pdf)

Related works:
Journal Article: Impact of the stock market capitalization and thebanking spread in growth and development in LatinAmerican: A panel data estimation with System GMM (2017)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:56588

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().