Abstract

PADILLA VILLA, Harold A.  and  ZANELLO RIVA, Lorenzo D.. Financial deepening and economic growth: the colombian case between 2001-2010. rev. econ. Caribe [online]. 2013, n.11, pp.35-61. ISSN 2011-2106.

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.

Keywords : financial development; economic growth; banking.

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