SISTEMA FINANCEIRO E CRESCIMENTO ECONÔMICO: UMA APLICAÇÃO DE REGRESSÃO QUANTÍLICA

Everton Nunes da Silva and Sabino Porto Junior

Anais do XXXII Encontro Nacional de Economia [Proceedings of the 32nd Brazilian Economics Meeting] from ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics]

Abstract: This work has as objective to analyze the supposed existing positive relation between financial development and economic growth. The financial system influences the economic growth due to the functions that it plays, such as: ) the mobilization of resources; b) allocation of the resources in the space and the time; c) administration of the risk; d) selection and monitoration of firms; and e) production and spreading of information. It was applied technique of quantile regression to analyze these aspects for data of 77 countries, what it allowed a more complete mapping of the impact generated for the measures of financial development in the conditional distribution of the response varieble (measured of economic growth). The estimates allow us to conclude that: ) it has a positive relation between financial development and economic growth; and b) bigger the quantil (that is, greater the ratio of economic growth) bigger is the contribution of the financial system for the economic growth.

JEL-codes: D82 G19 O16 (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:anp:en2004:076

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