Una introducción conceptual al desarrollo financiero, capital social y anonimidad: el caso de México

In this article, we develop a conceptual framework to study the interaction between financial development and different types of social capital. Our hypothesis is that financial transactions cannot be completely regulated by market contracts, and that market failures still appear in more developed s...

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Bibliographic Details
Published inIDEAS Working Paper Series from RePEc
Main Authors Sonia Di Giannatale, Roa García, María José, López, Patricia
Format Paper
LanguageEnglish
Published St. Louis Federal Reserve Bank of St. Louis 01.01.2008
Subjects
Social networks
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Summary:In this article, we develop a conceptual framework to study the interaction between financial development and different types of social capital. Our hypothesis is that financial transactions cannot be completely regulated by market contracts, and that market failures still appear in more developed societies, which are characterized by a higher level of task delegation and anonymity. Hence, social networks might complement those market deficiencies. In Mexico, the informal institutions dominate the financial sector, and those institutions are primarily based on social networks. For this reason, we think that, for the case of Mexico, it is important to include the social dynamics in the design of alternative formal financial mechanisms with the objective of reaching an important percentage of the population.