Impact of the stock market capitalization and thebanking spread in growth and development in LatinAmerican: A panel data estimation with System GMM

Ali Aali-Bujari (), Francisco Venegas-Martínez and Gilberto Pérez-Lechuga
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Ali Aali-Bujari: Universidad Autónoma del Estado de Hidalgo, Mexico
Gilberto Pérez-Lechuga: Universidad Autónoma del Estado de Hidalgo, Mexico

Contaduría y Administración, 2017, vol. 62, issue 5, 3-4

Abstract: This research is aimed at assessing the impact of the stock market capitalization and the banking spread in per capita economic growth (as a proxy of economic development) in the major Latin American economies during period 1994–2012. To do this, a panel data model is estimated with both system and difference Generalized Method of Moments. The main empirical findings are that economic growth in the countries under study is positively impacted by the stock market capitalization and negatively by the banking spread. Typical problems of multicollinearity and autocorrelation appearing in panel data analysis are corrected under the proposed methodology.Classification-JEL: O10; O31; O47

Keywords: Economic growth; Economic development; Financial sector; Panel data (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (5)

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Related works:
Working Paper: Impact of the Stock Market Capitalization and the Banking Spread in Growth and Development in Latin American: A Panel Data Estimation with System GMM (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:nax:conyad:v:62:y:2017:i:5:p:3-4

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