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Determinantes del margen de intermediación en Colombia

Author

Listed:
  • Dairo Estrada A.
  • Esteban Gómez G.
  • Inés Paola Orozco H:

Abstract

“Este documento analiza los determinantes del margen de intermediación en el sistema financiero colombiano. Basados en el modelo de Ha y Saunders (1981), los márgenes de intermediación son modelados como una función del margen puro y de las imperfecciones institucionales específicas de los bancos, utilizando información trimestral para el periodo 1994:IV-2005:III. Adicionalmente, el margen puro es estimado en función del poder de mercado y la volatilidad de la tasa de interés. Los resultados indican que los márgenes son afectados principalmente por la ineficiencia de las instituciones de crédito y en menor medida, por la exposición al riesgo de crédito y el poder de mercado. Lo anterior implica que las políticas públicas deben ser orientadas a la creación de las condiciones de mercado necesarias para que los bancos mejoren su eficiencia.”

Suggested Citation

  • Dairo Estrada A. & Esteban Gómez G. & Inés Paola Orozco H:, 2007. "Determinantes del margen de intermediación en Colombia," Coyuntura Económica, Fedesarrollo, June.
    • Handle: RePEc:col:000438:013345
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    File URL: http://hdl.handle.net/11445/2090
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    More about this item

    Keywords

    Informes de Investigación; Margen de Intermediación; Competencia; Riesgo del Crédito; Riesgo de la Tasa de Interés;
    All these keywords.

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices
    • L89 - Industrial Organization - - Industry Studies: Services - - - Other
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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