RT Generic
T1 Policy priorities to promote financial development in the context of the middle-income trap: the cases of Argentina, Colombia, Mexico and Peru
A1 Arellano Espinar, Francisco Alfonso
A1 Gouveia, Olga
A1 Nieto Parra, Sebastián
A1 Orozco, Jose René
A1 Peers, Rebeca
AB This paper analyses the development of financial markets in Argentina, Colombia, Mexico and Peru in the context of the middle-income trap. This is particularly relevant for these economies, since well-developed and properly-functioning financial markets are fundamental to achieve high income status on a sustainable basis. This paper identifies key policy priorities relating to four financial pillars: access, depth, efficiency and institutional factors. The analysis is based on a benchmark analysis from 1985 to 2015 and taking into consideration experiences in the financial status of 14 economies at the time they became "high income" and also focusing on advanced economies that exhibited the most similar characteristics to each of the four countries studied (defined as a “synthetic country”). Results show that despite some improvements in recent years, all countries display gaps in different areas to promote further access, depth and efficiency in both the banking system and capital markets. Finally, this paper identifies policy priorities across these four countries, highlighting the heterogeneity with respect to the financial dimensions of these countries.
PB BBVA Research
YR 2018
FD 2018
LK https://hdl.handle.net/20.500.14352/107622
UL https://hdl.handle.net/20.500.14352/107622
LA eng
NO Arellano A, Gouveia O, Parra SN, Orozco JR, Peers, R. Policy priorities to promote financial development in the context of the middle-income trap: the cases of Argentina, Colombia, Mexico and Peru. Review of Development Finance. 2020 Dec 1; 10(2): 19-30
NO Publicado también como artículo: Arellano, A., Gouveia, O., Parra, S.N., Orozco, J.R., and Peers, R. (2020), “Policy priorities to promote financial development in the context of the Middle Income Trap: the cases of Argentina, Colombia, Mexico and Peru”, Review of Development Finance, 10(2): 19-30. https://hdl.handle.net/10520/ejc-rdfin-v10-n2-a2
DS Docta Complutense
RD 17 abr 2025