Value at Risk and Economic Growth |
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| Authors: | Miguel-Ángel Galindo Martín Francisco Escribano Sotos María Teresa Méndez Picazo |
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| Affiliation: | (1) University of Castilla-La Mancha, Avenida de Europa,11 B 3 D, Pozuelo de Alarcon, Madrid, 28224, Spain;(2) University of Castilla-La Mancha, Avd. Los Alfares, n° 41, 16071 Cuenca, Spain;(3) Facultad de Ciencias Económicas y Empresariales Campus de Somosaguas, University Complutense, 28223 Madrid, Spain |
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| Abstract: | ![]()
The improvement of data statistics as well as the econometrician methods have facilitated the introduction the new variables and factors I the economic growth analysis. In this sense, real variables have mainly been considered in the economic growth studies, but not financial or risk management aspects. In this sense, it is interesting to analyze the relationship between economic growth and value at risk and the feed-back process. The goal of the paper is to analyze the relationship between economic growth and risk management and the feed-back process. We will consider economic variables, including economic growth, rule of law, human capital, fiscal policy and monetary policy, among others, in our analysis. We will analyze the theoretical relationships between these variables and risk and the effects of risk on economic growth. We will also develop an empirical analysis considering the case of 15 European Union countries. |
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| Keywords: | economic growth risk efficiency human capital |
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