Derivados y Crecimiento Económico: Nexos y Evidencia. El impacto de los derivados financieros en la economía real

Diego Lema and Martin Grandes
Additional contact information
Diego Lema: Facultad de Ciencias Económicas. Universidad de Buenos Aires. Argentina.
Martin Grandes: Facultad de Ciencias Económicas. Universidad de Buenos Aires. Argentina.

Revista Ciencias Administrativas (CADM), IIA, Universidad Nacional de La Plata, 2020, issue 16, No 5, 45-58

Abstract: This paper studies the links between the development of derivative markets and economic growth. By acknowledging the shortness of samples hindering any robust econometric analysis, it sets out and empirically checks those links, adopting statistical correlation techniques. It uses developed and emerging economy data over the most extensive period possible and tests for the presence of a structural break after the 2008-2009 crisis. The general result is that derivatives are positively correlated with economic growth, in particular, through the investment and international trade links. Another general result is that there is a concave relationship between growth and derivatives in the case of developed countries.

Keywords: derivatives; developed markets; economic growth; emerging markets. (search for similar items in EconPapers)
JEL-codes: E44 G15 G29 G32 N20 O40 (search for similar items in EconPapers)
Date: 2020
References: Add references at CitEc
Citations:

Downloads: (external link)
https://revistas.unlp.edu.ar/CADM/article/view/7525 (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:lap:recadm:126

DOI: 10.24215/23143738e065

Access Statistics for this article

More articles in Revista Ciencias Administrativas (CADM), IIA, Universidad Nacional de La Plata from Instituto de Investigaciones Administrativas, Facultad de Ciencias Económicas, Universidad Nacional de La Plata Contact information at EDIRC.
Bibliographic data for series maintained by Ana Clara Calabria ().