Policy priorities to promote financial development in the context of the Middle-Income Trap: The cases of Argentina, Colombia, Mexico and Peru
F. Alfonso Arellano (),
Jose René Orozco and
Rebeca Peers ()
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Rebeca Peers: OECD Development Centre
Review of Development Finance Journal, 2020, vol. 10, issue 2, 19-30
This paper analyses the development of financial markets in Argentina, Colombia, Mexico and Peru in the context of the middle-income trap. It identifies key policy priorities on three financial pillars: access, depth and efficiency. This paper is based on a benchmark analysis from 1985 to 2015 and takes into consideration experiences in the financial status of economies that became "high income", and also focuses on advanced economies that exhibited the most similar characteristics to each of the four countries. Results show specific gaps and policy priorities to promote further access, depth and efficiency in both the banking system and capital markets for each of these countries.
Keywords: Financial development; middle-income trap; economic growth; Latin America (search for similar items in EconPapers)
JEL-codes: G21 G28 O16 O54 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:afj:journ3:v:10:y:2020:i:2:p:19-30
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