Economic Freedom and the Determinants of the Bank Spread in South America

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dc.contributor.authorMaciel, Vladimir Fernandes
dc.contributor.authorGamboa, Ulisses Ruiz de
dc.contributor.authorAlves, Rafael Estevão Garcia
dc.creatorMaciel, Vladimir Fernandes
dc.creatorGamboa, Ulisses Ruiz de
dc.creatorAlves, Rafael Estevão Garcia
dc.date.accessioned2025-02-05T20:18:36Z
dc.date.available2025-02-05T20:18:36Z
dc.date.issued2022
dc.description.abstractThis paper performs panel data analysis to test the existence of an inverse relationship between bank spreads and the degree of economic freedom in South American countries between 2000 and 2020. In the late 1990s, South America began a process of financial sector reforms, which included in almost all countries the liberalization of interest rates (instead of capping) and the elimination of direct credit allocation mechanisms. By hypothesis, it is expected that the greater the economic freedom, the lower the degree of financial regulation. This would reduce the transaction costs of financial institutions and contribute to reducing the banking spread (assuming constant credit risk). The traditional methodology is applied here, complemented by unit root and cointegration tests, in addition to impulse-response function analysis, in the context of panel autoregressive vectors (VAR). The results show that economic freedom and monetary credibility (component area of the EFW, Economic Freedom of the World index) negatively affect the value of the spread, with long-run effects as well.en
dc.formatDigital
dc.format.extent17 p.
dc.identifier.doi10.4236/tel.2022.126101
dc.identifier.urihttps://repositorio.insper.edu.br/handle/11224/7360
dc.language.isoInglês
dc.relation.ispartofTheoretical Economics Letters
dc.subjectBanking Spreaden
dc.subjectEconomic Freedomen
dc.subjectSouth Americaen
dc.subjectPanel Dataen
dc.subjectVARen
dc.titleEconomic Freedom and the Determinants of the Bank Spread in South America
dc.typejournal article
dspace.entity.typePublication
local.identifier.sourceUrihttps://www.scirp.org/journal/paperinformation?paperid=122237
local.publisher.countryNão Informado
local.subject.cnpqCIENCIAS SOCIAIS APLICADAS::ECONOMIA::ECONOMIA MONETARIA E FISCAL
local.subject.cnpqCIENCIAS SOCIAIS APLICADAS::ECONOMIA::ECONOMIA INTERNACIONAL
local.subject.cnpqCIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::ADMINISTRACAO DE EMPRESAS::ADMINISTRACAO FINANCEIRA
local.subject.cnpqCIENCIAS SOCIAIS APLICADAS
local.subject.cnpqCIENCIAS HUMANAS::CIENCIA POLITICA::POLITICAS PUBLICAS
local.typeArtigo Científico
publicationissue.issueNumber6
publicationvolume.volumeNumber16
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