Financial deepening and economic growth: the colombian case between 2001-2010

Authors

  • Lorenzo Zanello Universidad del Norte
  • Harold Padilla Universidad del Norte

Keywords:

financial development, Economic Growth, banking

Abstract

This paper analyzes the effects of financial development on the Colombian economic growth at an inner state level, using a panel data model, between 2001-2010. The financial dynamics during the period was associated with the late 90s crisis, and the system restructuring measures that discouraged financial intermediation. Contrary to the literature, the results show a negative relationship between financial development and economic growth. These are consistent with the performance of a financial system that did not fulfill its role of mobilizing deposits into productive investment, showing that the relationship between financial development and economic growth is not always positive.

Author Biography

  • Harold Padilla, Universidad del Norte
    Economista de la Universidad del Norte. Analista del Proyecto Doing Business de la Universidad del Norte

Downloads

Published

2013-06-26

Issue

No. 11: JAN-JUN 2013

Section

Science article

License

I, ____________________________________________, author of the work and/ or article, adult, residing in the city of _________________, bearing the Identity Card/Passport n.° ______________________, issued in _______________________, in command of his/her/their physical and mental faculties, party hereinafter referred to as AUTHOR, signs the following authorization so the reproduction, publication, communication and distribution of the work can be done, under the following terms:

 

1. That, regardless of existing legal regulations due to the relationship of the parties to this contract, and any other existing legal presumption, the parties agree that the AUTHOR authorizes the Universidad del Norte, with the purpose of reproduce, publish, communicate and distribute the material called in the Revista de Economía del Caribe.

 

2. That such authorization apply to the copyright of the work, by any means, known or to be known, the public communication of the work, and the distribution of the work, directly or by third parties, purely educational purposes.

 

3. The AUTHOR undertakes to inform and declare the existence of this authorization and to preserve the right of the journal Revista de Economía del Caribe to the first publication of the work.

 

4. The AUTHOR states that the article is original and his/her/their exclusive creation, there being no impediment of any kind for the authorization he/she/they is/are giving, responding thereto by any action: claim, plagiarism or any other type of complaint that might arise about.

 

5. That such authorization is granted for free.

 

6. The moral rights of the author on the article correspond exclusively to the AUTHOR, in virtue of which, the Universidad del Norte agrees to expressly and rigorously recognize and respect them.