¿Puede la regulación financiera fomentar el crecimiento económico?
Keywords:
mercado financiero, regulación, eficiencia del mercado de capitales, crecimiento económico, equilibrio macroeconómico.Abstract
The effects of a financial market on growth are studied. By using a model of stochastic endogenous growth with two types of financial markets (efficient and inefficient) the macroeconomic equilibrium is characterized and shows that negative impacts on growth appear when financial market is inefficient. Therefore regulation on financial market can be applied, by a capital revenue tax, in order to restore macroeconomic equilibrium.
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