Financial development and economic growth in Peru: 1990-2022
Economic growth is a fundamental aspect of the progress of an economy of any country, which allows for the efficient articulation of the necessary and indispensable productive factors to produce the goods and services required by the various markets. A necessary and decisive pillar of this growth is...
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| Format: | Online |
| Language: | Spanish |
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Universidad Francisco de Paula Santander
2025
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| Online Access: | https://revistas.ufps.edu.co/index.php/profundidad/article/view/5007 |
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| Summary: | Economic growth is a fundamental aspect of the progress of an economy of any country, which allows for the efficient articulation of the necessary and indispensable productive factors to produce the goods and services required by the various markets. A necessary and decisive pillar of this growth is financial system, which channels the resources of surplus agents towards productive investments in the real sector of the economy, the objective of this research is to determine how the financial development of Peru has contributed favorably to achieving higher growth rates during recent years. 32 years, taking into account the process of stabilization of the economy and the adoption of a market economy, as well as trade opening. For this purpose, credit to the private sector, the gross domestic product, and private investment, exports, and the degree of trade openness have been taken as indicators to measure financial development, using the estimation method of a series model. of time (ADRL), through which the relationship between economic growth and financial development will be analyzed. It is concluded that there is a long-term cointegration relationship between credit per capita, investment per capita, export per capita, the degree of trade openness and economic growth. |
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