Abstract

HERNANDEZ SOTO, Rosaura Isabel; SOTO ZAZUETA, Irvin Mikhail  and  GAYTAN ALFARO, Edgar David. Financial system and economic growth in Mexico: 2003-2020. Anál. econ. [online]. 2025, vol.40, n.104, pp.49-66.  Epub Sep 09, 2025. ISSN 2448-6655.  https://doi.org/10.24275/uam/azc/dcsh/ae/2025v40n104/hernandez.

There are various economic studies that fail to clarify whether the financial system is the engine of economic growth, or vice versa, or if they are mutually determined. Therefore, the purpose of this study was to determine if the financial system has exerted a correlation relationship on the economic growth of Mexico in the years 2003-2020? The temporal limit of the research topic is longitudinal, applying an econometric model of time series, the databases of INEGI, Bank of Mexico, World Bank and International Monetary Fund were used. Among the most notable findings, it is concluded that the financial indicators that were selected in the study exert a statistical correlation relationship in the economic growth of Mexico, cointegration and causality were evident in the short term and long term, resulting in a positive influence towards economic growth to the country.

Keywords : Financial system; Financial indicators; Financial development; Financial crisis; Economic growth.

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