Revista de Economía del Rosario

ISSN-e: 2145-454X

ISSN: 0123-5362 

Liquidez de los mercados accionarios latinoamericanos y su impacto en el crecimiento económico per-cápita

Freddy Benjamin Naula Sigua, Jorge Arturo Campoverde Campoverde, Pedro Fabian Mora Pacheco, Diego Mauricio Loyola Ochoa

DOI: http://dx.doi.org/10.12804/revistas.urosario.edu.co/economia/a.8144

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Resumen


El presente artículo aporta evidencia empírica respecto a la influencia que tiene la liquidez del mercado accionario en el crecimiento económico, para una muestra de 11 países latinoamericanos. Con ésta finalidad, se utilizaron datos de panel, estimados por el método de Momentos Generalizados (GMM por sus siglas en inglés), además de variantes de dicho modelo. A pesar de que uno de los indicadores de liquidez, específicamente el Turnover, presenta un signo negativo, lo cual es contrario a lo típicamente esperado, a nivel general es posible concluir que la liquidez sí influye en el crecimiento económico. Además, existen países que pueden ser considerados atípicos; por eso se realizó el análisis con y sin ellos, obteniendo en ambos casos que se mantenía el mismo resultado. El estudio se corresponde de forma parcial con la literatura existente.


Palabras clave


liquidez; crecimiento económico; mercado accionario; Latinoamérica

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