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Consideraciones sobre la acumulación de reservas internacionales en Colombia entre 1970 y 2004

Author

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  • Humberto Mora

Abstract

Desde 2003 el país ha venido discutiendo la conveniencia de que el Banco de la República realice ventas de divisas al gobierno por el monto al que asciendan los "excedentes de reservas", con el fin de destinarlas al pago de la deuda pública externa. En mayo de 2004 el Banco decidió realizar ventas de este tipo por USD500 millones y en febrero de 2005 por USD1.250 millones. En estas páginas se analizan los determinantes de la acumulación de reservas internacionales entre 1970 y 2004, a la luz de la teoría económica y de la evidencia empírica provista por los resultados de las estimaciones econométricas de los modelos comúnmente usados para establecer el nivel óptimo de reservas.

Suggested Citation

  • Humberto Mora, 2005. "Consideraciones sobre la acumulación de reservas internacionales en Colombia entre 1970 y 2004," Coyuntura Económica, Fedesarrollo, December.
    • Handle: RePEc:col:000438:013377
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    File URL: http://hdl.handle.net/11445/915
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    More about this item

    Keywords

    Reservas Internacionales; Banco de la República; Mercado de Divisas; Acumulación de Reservas; Colombia;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • F31 - International Economics - - International Finance - - - Foreign Exchange

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