The Relationship Between Financial Development and Brazilian GDP per Capita
This study aimed to investigate the relationship between financial development (measured in terms of the evolution of financial institutions) and GDP per capita in Brazil (a representative measure of the average income of the Brazilian population). The most suitable method for data operationalizati...
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| Format: | Article |
| Language: | English |
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Programa Editorial de la Universidad del Valle
2025-03-01
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| Series: | Sociedad y Economía |
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| Online Access: | https://revistaingenieria.univalle.edu.co/index.php/sociedad_y_economia/article/view/13332 |
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| author | João Guilherme Magalhães Timotio Francisco Vidal Barbosa Bruno Perez Ferreira |
| author_facet | João Guilherme Magalhães Timotio Francisco Vidal Barbosa Bruno Perez Ferreira |
| author_sort | João Guilherme Magalhães Timotio |
| collection | DOAJ |
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This study aimed to investigate the relationship between financial development (measured in terms of the evolution of financial institutions) and GDP per capita in Brazil (a representative measure of the average income of the Brazilian population). The most suitable method for data operationalization was the Autoregressive Distributed Lag (ARDL) model. A long-term relationship between the model's variables was identified through the confirmation of cointegration. Specifically, in the long term, all variables demonstrated statistical significance. Access to financial institutions returned a negative value; however, the variables of financial depth and efficiency of financial institutions were positively related. In the short term, only the financial depth variable showed statistical significance, but with a sign opposite to that found in the long term. In summary, the findings underscore the importance of financial development in promoting the average income of the Brazilian population.
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| format | Article |
| id | doaj-art-eaf3eb768c14445ea5219cf6913748ca |
| institution | DOAJ |
| issn | 2389-9050 |
| language | English |
| publishDate | 2025-03-01 |
| publisher | Programa Editorial de la Universidad del Valle |
| record_format | Article |
| series | Sociedad y Economía |
| spelling | doaj-art-eaf3eb768c14445ea5219cf6913748ca2025-08-20T02:55:49ZengPrograma Editorial de la Universidad del ValleSociedad y Economía2389-90502025-03-0115410.25100/sye.v0i54.13332The Relationship Between Financial Development and Brazilian GDP per CapitaJoão Guilherme Magalhães TimotioFrancisco Vidal Barbosa0Bruno Perez Ferreira1Universidade Federal de Minas GeraisUniversidade Federal de Minas Gerais This study aimed to investigate the relationship between financial development (measured in terms of the evolution of financial institutions) and GDP per capita in Brazil (a representative measure of the average income of the Brazilian population). The most suitable method for data operationalization was the Autoregressive Distributed Lag (ARDL) model. A long-term relationship between the model's variables was identified through the confirmation of cointegration. Specifically, in the long term, all variables demonstrated statistical significance. Access to financial institutions returned a negative value; however, the variables of financial depth and efficiency of financial institutions were positively related. In the short term, only the financial depth variable showed statistical significance, but with a sign opposite to that found in the long term. In summary, the findings underscore the importance of financial development in promoting the average income of the Brazilian population. https://revistaingenieria.univalle.edu.co/index.php/sociedad_y_economia/article/view/13332Financial developmentGDP per capitaAverage incomeAutoregressive Distributed Lag (ARDL)Brazil |
| spellingShingle | João Guilherme Magalhães Timotio Francisco Vidal Barbosa Bruno Perez Ferreira The Relationship Between Financial Development and Brazilian GDP per Capita Sociedad y Economía Financial development GDP per capita Average income Autoregressive Distributed Lag (ARDL) Brazil |
| title | The Relationship Between Financial Development and Brazilian GDP per Capita |
| title_full | The Relationship Between Financial Development and Brazilian GDP per Capita |
| title_fullStr | The Relationship Between Financial Development and Brazilian GDP per Capita |
| title_full_unstemmed | The Relationship Between Financial Development and Brazilian GDP per Capita |
| title_short | The Relationship Between Financial Development and Brazilian GDP per Capita |
| title_sort | relationship between financial development and brazilian gdp per capita |
| topic | Financial development GDP per capita Average income Autoregressive Distributed Lag (ARDL) Brazil |
| url | https://revistaingenieria.univalle.edu.co/index.php/sociedad_y_economia/article/view/13332 |
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