MICROCRÉDITO Y CRECIMIENTO REGIONAL EN EL PERÚ

The objective of this study is to make a quantitative evaluation of the impact that the expansion of the microcredit has had on the growth of the economic activity in the Peruvian regions. Having as a theoretical framework the developed theory to analyze the relationship between economic growth and financial development and with annual information for 24 regions of the country in period 2001 - 2008, a panel data model is estimated with per capita GDP growth like dependent variable and the loans provided by various types of microfinance institutions, the loans of the commercial banks and other variables that affect the economic growth like explanatory variables. The found evidence suggests that the microfinancial expansion has a positive impact in the growth of the economic activity of the regions unlike which it happens with the expansion of the banking intermediation. A comparative static exercise show that if the loans of CMAC, CRAC and specialized banks get to rich 10% of the GDP in each region, the rate of growth of the GDP per capita would rise in at least 4 percentage points. In the regions with greater poverty increase is more impressive and significant.