Staff Discussion Notes Volume 2015 Issue 008: Reconsiderando la profundización financiera: Estabilidad y crecimiento en los mercados emergentes (2015)

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Reconsiderando la profundización financiera: Estabilidad y crecimiento en los mercados emergentes

Author:

Ms. Ratna Sahay

Ms. Ratna Sahay
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Mr. Martin Cihak

Mr. Martin Cihak
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https://orcid.org/0000-0002-3571-9707

Mr. Papa M N'Diaye

Mr. Papa M N'Diaye
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Mr. Adolfo Barajas

Mr. Adolfo Barajas
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Ms. Diana B Ayala Pena

Ms. Diana B Ayala Pena
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Ran Bi

Ran Bi
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Miss Yuan Gao

Miss Yuan Gao
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Ms. Annette J Kyobe

Ms. Annette J Kyobe
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Lam Nguyen

Lam Nguyen
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Christian Saborowski

0000000404811396

https://isni.org/isni/0000000404811396 International Monetary Fund

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Katsiaryna Svirydzenka

Katsiaryna Svirydzenka
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, and

Mr. Seyed Reza Yousefi

0000000404811396

https://isni.org/isni/0000000404811396 International Monetary Fund

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Series:: Staff Discussion Notes

Volume/Issue:: Volume 2015: Issue 008

Language:: Spanish

Publication Date:: 04 May 2015

DOI:: https://doi.org/10.5089/9781498302043.006

ISBN:: 9781498302043

ISSN:: 2790-4474

Pages:: 35

Keywords:: SDN; financial crisis; capital market; insurance market liberalization; marginal costs and benefits; bank credit; private sector

Legal-disclaimer:: Staff Discussion Notes (SDNs) showcase policy-related analysis and research being developed by IMF staff members and are published to elicit comments and to encourage debate.The views expressed in this Policy Discussion Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy.

Series:: Staff Discussion Notes

Volume/Issue:: Volume 2015: Issue 008

Language:: Spanish

Publication Date:: 04 May 2015

DOI:: https://doi.org/10.5089/9781498302043.006

ISBN:: 9781498302043

ISSN:: 2790-4474

Pages:: 35

Keywords:: SDN; financial crisis; capital market; insurance market liberalization; marginal costs and benefits; bank credit; private sector

Legal-disclaimer:: Staff Discussion Notes (SDNs) showcase policy-related analysis and research being developed by IMF staff members and are published to elicit comments and to encourage debate.The views expressed in this Policy Discussion Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy.

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La crisis financiera mundial puso de relieve los peligros de los sistemas financieros que han crecido demasiado con demasiada rapidez. En este documento se reexamina la profundización financiera, centrándose el análisis en lo que pueden aprender los mercados emergentes de la experiencia de las economías avanzadas. En él se observa que los beneficios de la profundización financiera para el crecimiento y la estabilidad siguen siendo importantes en el caso de la mayoría de los mercados emergentes, pero hay límites en cuanto a su tamaño y velocidad. Cuando la profundización financiera sobrepasa la fortaleza del marco de supervisión, lleva a una excesiva asunción de riesgo e inestabilidad. Algo alentador es que las reformas regulatorias que promueven la profundidad del sector financiero son esencialmente las mismas que aquellas que contribuyen a una mayor estabilidad. Una mejor regulación —no necesariamente más regulación— determina entonces mayores posibilidades de lograr tanto desarrollo como estabilidad.

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Staff Discussion Notes

ISSN:: 2617-6750

Publisher:: International Monetary Fund

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