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¿Puede el desarrollo financiero promover el desarrollo humano? Evidencia para Venezuela

Author

Listed:
  • Leonardo Vera
  • Albany Hernández
  • Dorelia Osorio

Abstract

Este estudio presenta evidencia empírica para la economía venezolana (entre los anos 1970 y 2009) de la posible relación que existe entre el acceso y uso de los servicios financieros por parte de la población y el grado de desarrollo humano. Usando varias proxis de bancarización, el estudio encuentra resultados robustos que indican que una mayor red de servicios y cobertura de depositantes explica las mejoras reportadas en el índice de desarrollo humano (IDH). El IDH también es impactado positivamente por la evolución que ha tomado el precio real de los hidrocarburos petroleros y el gasto público por habitante. De esta manera, el análisis se aleja de la muy conocida, pero controvertida relación entre desarrollo financiero y crecimiento económico, cuyo cuno explicativo se centra en las ganancias de eficiencia, para concentrarse más bien en la importancia que tiene la masificación de los servicios financieros en el bienestar de la población.******This study presents empirical evidence for Venezuelan economy (between 1970 and 2009) regarding a possible relation between how people access and use financing services and human development level. Using several proxies for access to banking services, the study finds robust results that indicate that a larger net of services and coverage of depositors explains reported improvements in Human Development Index (HDI). Evolutions of the real price of petroleum hydrocarbon and of the government expenditure per capita have had a positive impact on HDI. Thus, the analysis drifts apart from the well known, but controversial, connection between financial development and economic growth which is based on efficiency profits and it rather concentrates on the importance that financing services massification has on people´s welfare.

Suggested Citation

  • Leonardo Vera & Albany Hernández & Dorelia Osorio, 2013. "¿Puede el desarrollo financiero promover el desarrollo humano? Evidencia para Venezuela," Revista Finanzas y Politica Economica, Universidad Católica de Colombia, vol. 5(1), pages 23-42, June.
    • Handle: RePEc:col:000443:012116
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    References listed on IDEAS

    as
    1. World Bank, 2009. "The World Bank Annual Report 2009," World Bank Publications - Books, The World Bank Group, number 4354.
    2. World Bank, 2006. "The World Bank Annual Report 2006," World Bank Publications - Books, The World Bank Group, number 7526.
    3. Panicos Demetriades & Svetlana Andrianova, "undated". "Finance and Growth: What We Know and What We Need To Know," Discussion Papers in Economics 03/15, Division of Economics, School of Business, University of Leicester.
    4. World Bank, 2009. "The World Bank Annual Report 2009," World Bank Publications - Books, The World Bank Group, number 4356.
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    More about this item

    Keywords

    Palabra(s) clave: desarrollo humano; bancarización; profundidad financiera; desarrollo financiero; Venezuela.*******Keywords: human development; access to banking services; financial depth; financial development; Venezuela.;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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