The influence of domestic public debt market in the financial development: evidence of 52 countries in 1990-2020

Renzo Jiménez Sotelo
Authors registered in the RePEc Author Service: Renzo A. Jiménez-Sotelo ()

MPRA Paper from University Library of Munich, Germany

Abstract: The objective of the study was to determine if a policy of preference for the domestic public debt market influences the development of the respective national financial system. This research finds that such influence does exist. Using panel data techniques, the causal relationship between the internal marketing of public debt and eight indicators of financial development was tested. The results confirm that the traditional theories of financial development were incomplete. Although the research shows that the preference for the internal public debt market influences financial development, and therefore economic development, it does not explain why in some less developed countries it is not given greater importance, an answer that would also involve the fields of study in which politics and ethics move.

Keywords: sovereign curve; panel data; sovereign debt; economic development; securities market; financial policy; monetary policy; financial system. (search for similar items in EconPapers)
JEL-codes: A13 C23 D70 E61 G18 H63 N20 O16 P16 Q01 (search for similar items in EconPapers)
Date: 2023-02-23
New Economics Papers: this item is included in nep-fdg
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in El Trimestre Económico 359.90(2023): pp. 773-804

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/121021/1/MPRA_paper_121021.pdf original version (application/pdf)

Related works:
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:121021

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 ().