Template-Type: ReDIF-Article 1.0
Author-Name: Diego Lema         
Author-Workplace-Name: Facultad de Ciencias Económicas. Universidad de Buenos Aires. Argentina.
Author-Name: Martin Grandes            
Author-Workplace-Name: Facultad de Ciencias Económicas. Universidad de Buenos Aires. Argentina.
Title: Derivados y Crecimiento Económico: Nexos y Evidencia. El impacto de los derivados financieros en la economía real    
Abstract: This paper studies the links between the development of derivative markets and economic growth. By acknowledging the shortness  of  samples  hindering  any  robust  econometric  analysis,  it  sets  out  and  empirically  checks  those  links,  adopting  statistical correlation techniques. It uses developed and emerging economy data over the most extensive period possible and tests for the presence of a structural break after the 2008-2009 crisis. The general result is that derivatives are positively correlated with economic growth, in particular, through the investment and international trade links. Another general result is that there is a concave relationship between growth and derivatives in the case of developed countries. 
Classification-JEL: E44, G15, G29, G32, N20, O40
Keywords: derivatives, developed markets, economic growth, emerging markets.
Journal: Ciencias Administrativas
Pages: 45-58
Issue: 16
Number: 5
Year: 2020
Month: July-December
DOI: 10.24215/23143738e065
File-URL: https://revistas.unlp.edu.ar/CADM/article/view/7525
File-Format: Application/pdf
Handle: RePEc:lap:recadm:126