The spatial structure of the financial development in Brazil

Marco Crocco, Fabiana Santos and Pedro Amaral
Additional contact information
Fabiana Santos: Cedeplar-UFMG

Textos para Discussão Cedeplar-UFMG from Cedeplar, Universidade Federal de Minas Gerais

Abstract: This paper explores the financial development in Brazil. It focuses on the impacts of the development level of a municipality’s financial system over its neighborhood, under the light of the Central Place Theory. Using a GMM estimator for a spatial panel model with an endogenous spatial lag and spatial moving average errors we investigate the spatial structure of the financial system in Brazil. The results point to a negative spatial association between the Brazilian municipalities’ financial system, in the way that a municipality with more developed financial system tends to be surrounded by municipalities with less developed financial systems.

Keywords: financial development; spatial structure; bank strategy; Brazil (search for similar items in EconPapers)
JEL-codes: G21 O16 R12 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2009-09
New Economics Papers: this item is included in nep-ban, nep-dev, nep-geo and nep-ure
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.cedeplar.ufmg.br/pesquisas/td/TD%20361.pdf (application/pdf)

Related works:
Journal Article: The Spatial Structure of Financial Development in Brazil (2010)
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:cdp:texdis:td361

Ordering information: This working paper can be ordered from
Cedeplar-FACE-UFMG Av. Antonio Carlos, 6627 Belo Horizonte, MG 31270-901 Brazil

Access Statistics for this paper

More papers in Textos para Discussão Cedeplar-UFMG from Cedeplar, Universidade Federal de Minas Gerais Cedeplar-FACE-UFMG Av. Antonio Carlos, 6627 Belo Horizonte, MG 31270-901 Brazil. Contact information at EDIRC.
Bibliographic data for series maintained by Gustavo Britto ().