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Efectividad del control a los flujos de capital: Un reexamen empírico de la experiencia reciente en Colombia Author info | Abstract | Publisher info | Download info | Related research | Statistics Hernán Rincón ()
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el trabajo utiliza una medida de los flujos de capital privado de corto plazo y variables que buscan capturar los niveles de los créditos comerciales y también de las transacciones internacionales así como factores de expulsión y atracción para evaluar la efectividad de los controles de capital, específicamente de un depósito no remunerado sobre los flujos de crédito externo, en el caso colombiano. Se utiliza la metodología de Johansen y Juselius la cual permite usar directamente variables no estacionarias en las estimaciones y controlar por problemas de simultaneidad. La conclusión principal es que los controles han sido efectivos en disminuir los flujos de capital de corto plazo. La evidencia también resalta el papel jugado por factores de xpulsión y atracción en la determinación de los flujos de crédito externo y muestra que la hipótesis de paridad descubierta de interés, ajustada por una prima de riesgo, no es satisfecha por los datos.
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Article provided by UNIVERSIDAD DEL ROSARIO - FACULTAD DE ECONOMÍA in its journal REVISTA DE ECONOMÍA DEL ROSARIO .
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Hernán Rincón, 1999.
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Leonardo Villar & Hernán Rincón, .
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