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Política cambiaria y esquemas de metas de inflación: ¿Qué nos dicen los datos?
(2008-07)
Este trabajo se realizó bajo dos motivaciones principales, la primera se basa en que luego del estudio fear of declaring: do markets care what countries say about their Exchange rate policy?, IMF staff papers se encontró que muchos países emergentes prefieren declararse como flotadores, a pesar de sus marcadas intervenciones, relacionándose con el esquema de metas de inflación y el hecho de que flotar es un prerrequisito ...
Colombia's Efforts at Achieving Inclusive and Sustainable Growth: The Road Traveled and the Challenges Ahead
(2008-06)
"At the end of the 1980s Colombia confronted a situation of low growth and an unsettled domestic security situation. In order to address these issues, a comprehensive reform effort was undertaken starting in 1990. The reform agenda comprised market-driven reforms aimed at enhancing competition and the role of the private sector as well as a vast array of institutional reforms aimed at strengthening macro stability, ...
Depositor behavior and market discipline in Colombia
(2001-04)
This study examines how depositors choose among different banks and over time in Colombia, focusing on whether they discipline bank behavior. By controlling for a more comprehensive set of risk/return factors, the study improves upon conventional market discipline tests. Panel data estimations for 1985-99 show that depositors prefer banks with stronger fundamentals, and that banks tend to improve their fundamentals ...
La economía política de las reformas estructurales: lecciones de la experiencia colombiana 1989-1995The political economy of structural reforms in Colombia
(2000-01)
The purpose of this project is to analyze Colombia's reform experience from a political economy perspective. Particularly, it pretends to shed light on what pushed Colombia to star this project, on how the different actors political parties, the private sector, the labor movement, the military and, more generally, civil society reacted, on how key players were compensated and how the political and economic reforms ...