The paper explores the influences of financial development on economic growth and its volatility. First, it discusses the theoretical literature that attempts to explain these relationships. Then, it presents time series evidence for the cases of Mexico and the US. We use GARCH models, which...

In this article, we develop a conceptual framework to study the interaction between financial development and different types of social capital. Our hypothesis is that financial transactions cannot be completely regulated by market contracts, and that market failures still appear in more...

The general purpose of the present document is to analyze the role of several social networks into financial development. In concrete, we have the hypothesis that in locations where closed social networks with family and friends prevail, financial transactions of saving and credit are not only...