Abstract

TAMARA-AYUS, Armando Lenin; EUSSE-OSSA, Lina María  and  CASTELLON-PEREZ, Andrés. The impacts of financial development on economic growth in Colombia and Chile, 1982-2014. Finanz. polit. econ. [online]. 2017, vol.9, n.1, pp.57-67. ISSN 2248-6046.  https://doi.org/10.14718/revfinanzpolitecon.2017.9.1.4.

This article analyzes the validity and relevance of the variables proposed by King and Levine (1993) in the specific case of Colombia and Chile; for this effect, it uses a panel data model as a strategy to find possible significant impacts of the financial variables on growth in both countries, not only considering their behavior over time, but also the existence of heterogeneities among them. The results partially show how some of the variables have distinguishable impacts on economic performance and growth.

Keywords : Financial development; economic growth; data panel; Prais-Winsten transformation.

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