The influence of fiscal solvency on financial development: evidence for 140 countries, 1990–2020

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cepal.articleNo5
cepal.bibLevelSección o Parte de un Documento
cepal.callNumberLC/PUB.2025/1-P
cepal.docTypeRevistas
cepal.jelCodeF65
cepal.jelCodeG00
cepal.jelCodeO16
cepal.jobNumber05jimenez_REV-145E
cepal.physicalDescriptiongráficos, tablas.
cepal.regionalOfficeSantiago
cepal.sdg1
cepal.topicEngFINANCING FOR DEVELOPMENT
cepal.topicEngFISCAL AFFAIRS
cepal.topicEngFINANCIAL AND MONETARY SECTOR
cepal.topicSpaFINANCIAMIENTO PARA EL DESARROLLO
cepal.topicSpaASUNTOS FISCALES
cepal.topicSpaSECTOR FINANCIERO Y MONETARIO
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
dc.contributor.authorJiménez-Sotelo, Renzo A.
dc.coverage.temporalEnd2020
dc.coverage.temporalStart1990
dc.date.accessioned2025-08-22T13:33:46Z
dc.date.available2025-08-22T13:33:46Z
dc.date.issued2025-04
dc.description.abstractIf financial development facilitates economic development at the international level, as is the consensus view, then it follows that each government’s task is to implement policies that effectively boost national financial development. This study tests the new hypothesis that a more fiscally solvent policy approach positively influences financial development. The results, based on a yearly comparison, show that fiscal solvency, approximated by the credit rating on sovereign debt denominated in local currency, affects three dimensions of financial development: (i) the depth of credit leveraging of economic activity; (ii) the efficiency of the bank lending-deposit spread; and (iii) retail access through bank branches and automatic teller machines (ATMs). The test confirms that there is one tool upon whose importance not all macroeconomic policymakers have agreed in their strategic planning for enhanced general public welfare: fiscal solvency.
dc.formatTexto
dc.format.extentpáginas 85-106
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/PUB.2025/1-P
dc.identifier.urihttps://hdl.handle.net/11362/82407
dc.language.isoeng
dc.publisherECLAC
dc.publisher.placeSantiago
dc.relation.isPartOfSeriesCEPAL Review
dc.relation.isPartOfSeriesNo145
dc.relation.translationLanguagespa
dc.relation.translationRecordLa influencia de la solvencia fiscal en el desarrollo del sistema financiero: evidencia para 140 países para 1990-2020
dc.relation.translationUrihttps://hdl.handle.net/11362/81881
dc.rights.coarDisponible
dc.subject.unbisEngFINANCE
dc.subject.unbisEngFISCAL POLICY
dc.subject.unbisEngPUBLIC FINANCE
dc.subject.unbisEngFINANCIAL POLICY
dc.subject.unbisEngPUBLIC DEBT
dc.subject.unbisEngRISK
dc.subject.unbisEngCAPITAL MARKETS
dc.subject.unbisEngCREDITWORTHINESS
dc.subject.unbisEngECONOMIC DEVELOPMENT
dc.subject.unbisSpaFINANZAS
dc.subject.unbisSpaPOLITICA FISCAL
dc.subject.unbisSpaHACIENDA PUBLICA
dc.subject.unbisSpaPOLITICA FINANCIERA
dc.subject.unbisSpaDEUDA PUBLICA
dc.subject.unbisSpaRIESGO
dc.subject.unbisSpaMERCADOS DE CAPITAL
dc.subject.unbisSpaCAPACIDAD CREDITICIA
dc.subject.unbisSpaDESARROLLO ECONOMICO
dc.titleThe influence of fiscal solvency on financial development: evidence for 140 countries, 1990–2020
dc.type.coarartículo
dspace.entity.typePublication
relation.isAuthorOfPublication86a71f8c-c59b-47c8-9f06-64f94c6e5bd5
relation.isAuthorOfPublication.latestForDiscovery86a71f8c-c59b-47c8-9f06-64f94c6e5bd5
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