Capital Flows and Financial Assets in Colombia: Recent Behavior, Consequences and Challenges for the Central Bank
AbstractThis paper analyzes the evolution and impact of capital flows in Colombia over the pastfive years. An examination of the nature and composition of the capital flows indicatesthat to large extent they have originated in foreign direct investment, especially in theoil and mining sectors. The repercussions of capital flows for the stability and fragilityof the financial system are also discussed. Finally, some of the challenges faced by theauthorities in dealing with the implications of capital flows for the conduct of monetaryand exchange rate policies are presented
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Bibliographic InfoPaper provided by BANCO DE LA REPÚBLICA in its series BORRADORES DE ECONOMIA with number 004588.
Date of creation: 02 Apr 2008
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Capital flows; sterilization; exchange rate; foreign investment inColombia; financial system.;
Find related papers by JEL classification:
- E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
- F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
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- Alper, C. Emre & Saglam, Ismail, 1999. "The Equilibrium Real Exchange Rate: Evidence from Turkey," MPRA Paper 1924, University Library of Munich, Germany.
- Fernando Tenjo Galarza & Luisa F. Charry & Martha López P. & Juan M.Ramírez C., .
"Acelerador Financiero y Ciclos Económicos en Colombia: Un Ejercicio Exploratorio,"
Borradores de Economia
451, Banco de la Republica de Colombia.
- Fernando Tenjo & Luisa F. Charrry V. & Martha López & Juan M. Ramírez, 2007. "Acelerador Financiero y Ciclos Económicos en Colombia: Un Ejercicio Exploratorio," BORRADORES DE ECONOMIA 004019, BANCO DE LA REPÚBLICA.
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