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Capital Flows and Financial Assets in Colombia: Recent Behavior, Consequences and Challenges for the Central Bank

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  • Hernando Vargas Herrera

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  • Carlos Varela

    ()

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    Abstract

    This paper analyzes the evolution and impact of capital flows in Colombia over the past five years. An examination of the nature and composition of the capital flows indicates that to large extent they have originated in foreign direct investment, especially in the oil and mining sectors. The repercussions of capital flows for the stability and fragility of the financial system are also discussed. Finally, some of the challenges faced by the authorities in dealing with the implications of capital flows for the conduct of monetary and exchange rate policies are presented

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    File URL: http://www.banrep.gov.co/docum/ftp/borra502.pdf
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    Bibliographic Info

    Paper provided by BANCO DE LA REPÚBLICA in its series BORRADORES DE ECONOMIA with number 004588.

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    Length: 36
    Date of creation: 02 Apr 2008
    Date of revision:
    Handle: RePEc:col:000094:004588

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    1. 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.
    2. Alper, C. Emre & Saglam, Ismail, 1999. "The Equilibrium Real Exchange Rate: Evidence from Turkey," MPRA Paper 1924, University Library of Munich, Germany.
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