Financial Deepening in Mexico

Herman, Alexander; Klemm, Alexander

doi:10.7172/2353-6845.jbfe.2019.1.1

Cited by 5 publications

(1 citation statement)

References 17 publications

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“…The 1990s will go down in history as a period of systemic financial crises for emerging economies. Latin American countries were first to be hit, following the 1994 Mexican peso crisis and its impact on other emerging markets (Herman and Klemm, 2019). This was followed by other crises that reverberated across emerging economies in Western Europe, East Asia and South-East Asia.…”

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confidence: 99%

Financial Contagion between Eurozone and BRICS Stock Markets under Multiscale Scrutiny

Niyitegeka,

Habiyaremye

2024

Preprint

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We use the Maximum Overlap Discrete Wavelet Transform (MODWT) to analyse the interconnectedness between the stock markets of continental Europe and the BRICS countries. More specifically, we examine the presence of financial contagion in the stock markets of Brazil, Russia, India, China, and South Africa subsequent to the EuroZone Sovereign Debt Crisis (EZDC). We find evidence of co-movement and volatility spillover at short time scales between the Eurozone equity market and the equity markets in South Africa and Russia, with the Eurozone stock market leading the BRICS markets. The presence of co-movement in short time scales is indicative of the presence of financial contagion. No financial contagion is observed in the Brazilian, Chinese, and Indian stock markets during the European sovereign debt crisis. The absence of financial contagion observed in these three BRICS countries during the European sovereign debt crisis suggests that policymakers in these countries should prioritise addressing idiosyncratic shock channels.

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Section: Introductionmentioning

confidence: 99%

Financial Contagion between Eurozone and BRICS Stock Markets under Multiscale Scrutiny

Niyitegeka,

Habiyaremye

2024

Preprint

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Financial inclusion and exclusion across Mexican municipalities

Cruz-García

Macedo

Tortosa‐Ausina

2021

Regional Science Policy & Practice

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Although in recent years there has been a growth in banking services in Mexico, there is still a significant delay in terms of financial inclusion, which is also very uneven across municipalities. In this context, this paper analyses some of the factors that determine the probability of a municipality being financially included. The results show that financially included municipalities have a large number of inhabitants and high levels of income and education. The analysis also distinguishes between municipalities according to the region in which they are located and to their type of population. In general, rural and in transition municipalities are the least financially included, together with the municipalities located in the Sur region of the country. For these types of municipalities, results also show that both population and the Human Development Index (HDI) are important in determining the probability of being financially included. However, for urban municipalities, HDI is more important than the level of population as a factor influencing financial inclusion.

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Financial Contagion between German and BRICS Stock Markets under Multiscale Scrutiny

Niyitegeka,

Habiyaremye

2024

JRFM

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We employ wavelet analysis using the maximum overlap discrete wavelet transform (MODWT) to examine the return and volatility interconnectedness between the German equity market (a prominent representative of the Eurozone market) and the BRICS countries over the period 2005–2017. Specifically, we investigate the presence of the pure form of financial contagion in the stock markets of Brazil, Russia, India, China, and South Africa subsequent to the Eurozone Sovereign Debt Crisis (EZDC). Our results indicate the presence of financial contagion between the Eurozone equity market and its counterparts in South Africa and Russia, characterised by co-movement and volatility spillover effects. This contagion is particularly evident at higher frequencies, suggesting that the transmission of shocks occurs rapidly across these markets in the short term. No financial contagion is observed in the Brazilian, Chinese, and Indian stock markets during the European Sovereign Debt Crisis. The absence of financial contagion observed in these three BRICS countries during the European Sovereign Debt Crisis suggests that policymakers in these countries should prioritise addressing idiosyncratic shock channels.

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Financial Deepening in Mexico

Cited by 5 publications

References 17 publications

Financial Contagion between Eurozone and BRICS Stock Markets under Multiscale Scrutiny

Financial Contagion between Eurozone and BRICS Stock Markets under Multiscale Scrutiny

Financial inclusion and exclusion across Mexican municipalities

Financial Contagion between German and BRICS Stock Markets under Multiscale Scrutiny

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