Palavras-chave
Intermediação financeira.
Desenvolvimento econômico
Como Citar
Resumo
O objetivo deste estudo é investigar os determinantes do spread da intermediação financeira, especificamente como o nível de desenvolvimento econômico e a eficácia do governo estão relacionados com tal aspecto em uma análise cross-country que englobou os anos de 2018 a 2020 e considerou uma amostra de 135 países, categorizados conforme diferentes níveis de desenvolvimento econômico. Para examinar essas relações, empregou-se uma modelagem econômica de regressão linear hierárquica em três níveis, cujos resultados revelaram que 52,86% das variações nos spreads são explicadas pelo nível de desenvolvimento econômico do país. Além disso, constatou-se que a variação anual dos spreads foi estatisticamente significativa, com um parâmetro estimado de decréscimo anual de -0,126 durante o período analisado. De maneira notável, os achados demonstraram uma relação negativa e estatisticamente significativa entre a variável de pesquisa do Índice de Eficácia Governamental (IEG) e o spread, visto que países com valores elevados nessa taxa tendem a apresentar níveis baixos de spread. Ressalta-se que tanto o desenvolvimento econômico do país quanto a eficácia do governo influenciam o processo de intermediação financeira, e os resultados obtidos contribuem para a compreensão dos fatores determinantes do spread bancário.
Palavras-chave: Spread. Intermediação financeira. Desenvolvimento econômico.
Abstract
Determinants of financial intermediation spread: a cross-country analysis based on a three-level hierarchical regression model
The objective of this study is to investigate the determinants of the financial intermediation spread, specifically how the level of economic development and government effectiveness are related to this aspect in a cross-country analysis that encompassed the years 2018 to 2020 and considered a sample of 135 countries, categorized according to different levels of economic development. To examine these relationships, a three-level hierarchical linear regression economic modeling was used, the results of which revealed that 52.86% of the variations in spreads are explained by the country's level of economic development. In addition, it was found that the annual variation in spreads was statistically significant, with an estimated annual decrease parameter of -0.126 during the analyzed period. Notably, the findings demonstrated a negative and statistically significant relationship between the research variable of the Government Effectiveness Index (GEI) and the spread, since countries with high values in this ratio tend to have low levels of spread. It is worth noting that both the country's economic development and the government's effectiveness influence the financial intermediation process, and the results obtained contribute to understanding the factors determining the banking spread.
Keywords: Banking Spread. Financial Intermediation. Economic Development.
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