El impacto de la liquidez del mercado bursátil en el crecimiento económico: evidencia de los países BRICS

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The Anáhuac Journal
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Publicado: 2025-09-05
DOI: https://doi.org/10.36105/
Palabras clave:
BRICS, liquidez, crecimiento económico, mercado bursátil

Contenido principal del artículo

Samuel Mongrut Montalvan
Universidad del Pacífico, Lima, Peru. Universidad Autónoma de Querétaro, Mexico
https://orcid.org/0000-0003-2081-5576
Vivian
Universidad del Pacífico, Lima, Peru
https://orcid.org/0000-0001-8802-4952
Roberto Castillo Dieguez
Universidad Autónoma de Querétaro, Mexico
https://orcid.org/0000-0002-3352-2265
Pilar Álvarez Franco
Universidad EAFIT, Medellin, Colombia
https://orcid.org/0000-0002-8557-6345

Resumen

Este artículo analiza la relación entre la liquidez bursátil y el crecimiento económico en cinco países emergentes: Brasil, Rusia, India, China y Sudáfrica, conocidos como BRICS desde 2017. Mediante un modelo dinámico de datos de panel, observamos que las variables asociadas a la liquidez bursátil contienen información clave sobre la economía real. Nuestros resultados son robustos incluso después de controlar las covariables macroeconómicas que afectan al mercado bursátil y al crecimiento económico. Presentamos evidencia de que la liquidez bursátil contiene información sólida y robusta sobre la situación económica de los BRICS durante el período 2010-2017. Nuestro estudio destaca que la liquidez bursátil contiene noticias prospectivas e información sobre el estado futuro del crecimiento económico.

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Número

Vol. 25 Núm. 2 (2025): The Anáhuac Journal, Vol. 25, Núm. 2, 2025, Segundo Semestre

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Artículos
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Biografía del autor/a

Samuel Mongrut Montalvan, Universidad del Pacífico, Lima, Peru. Universidad Autónoma de Querétaro, Mexico

Samuel Mongrut holds a Ph.D. in Financial Economics from the University of Barcelona (Spain), a master’s in Economics from the University of Maastricht (Netherlands), and a bachelor’s in Business Administration from Universidad del Pacífico, Peru. He is currently a professor of Finance at the Universidad del Pacifico and the Universidad Autónoma de Querétaro, Mexico. He is also a visiting professor at several universities in Europe and Latin America, member of the National System of Researchers in Peru and Mexico, member of the research group for Investment Analysis and Uncertainty (IAFI) of the University of Barcelona, Spain, and member of the Board of the International Finance Conference (IFC).

Vivian, Universidad del Pacífico, Lima, Peru

Vivian Cruz is a Professor in the Department of Finance of the Universidad del Pacifico, and member of its Research Center. She holds a PhD in Economics and a master’s degree in Finance from Universidad EAFIT, Colombia, and a degree in Economics from the University of Havana (Cuba). She has research experience in banking, financial fragility, financial inclusion, microcredit, and financial modeling. She has worked as a consultant for institutions such as the IDB, the World Bank, ECLAC, and LACADI (Latin American Climate Asset Disclosure Initiative).

Roberto Castillo Dieguez, Universidad Autónoma de Querétaro, Mexico

Roberto Castillo Dieguez is a professor and researcher at the School of Accounting and Administration of the Autonomous University of Querétaro (UAQ). He holds a master’s degree in Analytics and Business Intelligence from the Universidad Tecnológica de México. Castillo Dieguez is full member of the Academia de Ciencias Administrativas A.C.—Academy of Administrative Sciences— (ACACIA) and the Red Internacional de Investigadores en Educación a Distancia, en Línea y Abierta (REDIC)—International Research Network on Distance, Online, and Open Education. His research focuses on territorial development, evaluation, multivariate statistics, finance, and econometrics. He was awarded the National Research Award by the ANFECA—Asociación Nacional de Facultades y Escuelas de Economía y Administración— in 2024 and received second place at the International Finance Conference, held in Durango in 2023 and Lima in 2024.

Pilar Álvarez Franco, Universidad EAFIT, Medellin, Colombia

Pilar Álvarez Franco works as a professor of Finance at Universidad EAFIT and a researcher at the Center for Research in Economics and Finance. Her academic work focuses on financial inclusion, financial education, financial well-being, and credit risk analysis using alternative data, with particular emphasis on vulnerable populations and gender gaps in access to financial services. She has led impact evaluations, designed financial well-being indicators, and conducted applied studies in collaboration with government agencies, NGOs, and financial institutions. She holds a Ph.D. in Business Administration from CENTRUM PUCP and a master’s degree in Economics and Finance from the State University of New York at Binghamton.

Cómo citar

El impacto de la liquidez del mercado bursátil en el crecimiento económico: evidencia de los países BRICS. (2025). The Anáhuac Journal, 25(2), 1-28. https://doi.org/10.36105/

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