Resumen

LEVY ORLIK, Noemi. The monetary circuit: capital goods and non-banking financial institutions. Evidence in the Mexican economy. Economía UNAM [online]. 2017, vol.14, n.42, pp.72-92. ISSN 1665-952X.

The monetary circuit theory is a relevant theoretical framework to discuss the mobilization of final resources for production and economic growth, especially if explicitly is included profit recirculation to the economy. In this work is discussed critically the monetary circuit theory and is applied to developing economies. We want to show that bank credits are related to the wage bill, while investment spending is linked to financial non-banking instruments. In addition, we want to show that financial depth although amplified the financial circuit did not increased finance for investment spending or production.

Palabras llave : Monetary Circuit; Credit; Finance; Developing Economies; E22; E44; E52; E63.

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