On the relationship between the real sector and the derivatives markets in major Latin American countries (2002-2016)

Ali Aali-Bujari (), Francisco Venegas-Martínez and Tomás Gómez-Rodríguez ()
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Ali Aali-Bujari: Universidad Autónoma del Estado de Hidalgo, México
Tomás Gómez-Rodríguez: Universidad Autónoma del Estado de Hidalgo, México

Panorama Económico, 2023, vol. 19, issue 39, 27-40

Abstract: This paper is aimed at assessing the relationship between the real economy and the derivatives markets in three of the largest economies in Latin America (Brazil, Mexico and Argentina) during the period 2002-2016. To do this, Granger causality test among the variables are performed and, subsequently, a panel data model is specified and estimated. The main empirical findings, in the studied economies, are: 1) there is significant bidirectional Granger’s causality between the real gross domestic product per capita and the derivatives markets and 2) the panel data model shows that the real economy is positively affected by the derivatives markets.

Keywords: Real economy; derivatives market; Granger causality; panel data. (search for similar items in EconPapers)
JEL-codes: E62 H20 H21 I22 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ipn:panora:v:19:y:2023:i:39:p:27-40

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