Convergência dos sistemas financeiros no período 1971-2000: uma análise por meio de Matrizes de Markov

Authors

  • Nilton Clóvis Machado de Araújo
  • Valter José Stulp

Keywords:

financial systems, convergence,

Abstract

This article analyzes the convergence of the financial systems of 27 developed and underdeveloped countries, based on their performance during the periods from 1971 to 1990, and 1990 to 2000. The analysis was performed using Markov matrices, and was based on two variables related to the role of  financial intermediaries in these systems: credit/GDP ratio and volume of deposits/GDP ratio. The results obtained, based on the data  for these two periods, indicate that there will notbe convergence of the financial systems of  these  countries into a single pattern over the long term.The pattern of convergence based on the 1990-2000 period differs from the pattern based on the first period. The second period was characterized by the intensification of financial globalization, which resulted in great changes in the financial markets of many countries. The results from this  period suggest a tendency to converge towards two extremes with respect to the function of the banks in financial systems.

Downloads

Published

2009-06-05

How to Cite

ARAÚJO, N. C. M. de; STULP, V. J. Convergência dos sistemas financeiros no período 1971-2000: uma análise por meio de Matrizes de Markov. Nova Economia, [S. l.], v. 17, n. 1, 2009. Disponível em: https://revistas.face.ufmg.br/index.php/novaeconomia/article/view/485. Acesso em: 17 jul. 2024.

Issue

Vol. 17 No. 1 (2007)

Section

Regular Issue

License

Authors who publish with this journal agree to the following terms:

  1. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution 4.0 International License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
  2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
  3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).