Colombia: Financial system and poverty

Abstract

There are connections between the Colombian financial system (SFC) and the poverty line (LP). In the neoclassical perspective if financial system (SF) grows, LP lowers. The heterodoxa opens new ways to detect this type of relationship. This article objects to the benefits of the SFC on LP in Colombia in the period 1994-2010. The inquiry was inspired by the economic literature on inclusion, inequality, induced poverty and social responsibility of SF. The sources of refutation are an autoregressive model and distributed lags, and a Granger test. The results indicate that the internal variables of the CFS: mortgage credit (CD), real estate loans in payment of financial debts (DBP) and commercial interest rates (TIA) of the commercial bank have direct, long-term relationships And "causal" with LP.