Efeito do desenvolvimento financeiro no crescimento económico nas economias desenvolvidas e em desenvolvimento: será a medição do desenvolvimento financeiro relevante?
DOI:
https://doi.org/10.59072/rper.vi70.714Palavras-chave:
crescimento económico; desenvolvimento financeiro; países desenvolvidos; países em desenvolvimento; dados em painel; cointegração.Resumo
As instituições financeiras, juntamente com os mercados bolsistas, promovem activamente o desenvolvimento financeiro nas economias de todo o mundo, o que impulsionou significativamente o crescimento económico de alguns países. Através da aplicação de técnicas de cointegração, este estudo analisa a relevância a longo prazo entre o crescimento económico, o desenvolvimento financeiro, o capital humano, a globalização e a utilização de energia primária para uma amostra de 76 países durante o período de 1980 a 2019. Compreender as possíveis diferenças entre países países desenvolvidos e em desenvolvimento, este estudo mostra que o desenvolvimento financeiro em termos de instituições bancárias contribui significativamente para o crescimento das economias em desenvolvimento, enquanto o desenvolvimento financeiro mais orientado para os mercados bolsistas contribui significativamente para o crescimento das economias desenvolvidas. O papel do capital humano é crucial no crescimento económico, tanto nas economias desenvolvidas como nas economias em desenvolvimento, a longo prazo. Por outro lado, a globalização em termos políticos afecta apenas as economias em desenvolvimento, que, ao contrário das economias desenvolvidas, têm uma presença menor nos restantes países. Finalmente, tanto as economias em desenvolvimento como as desenvolvidas ainda baseiam o seu crescimento na utilização de energia primária.
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