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Política monetaria no convencional en EE.UU y comportamiento de los mercados emergentes en América Latina

Author

Listed:
  • Gil-León, José Mauricio

    (Universidad Pedagógica y Tecnológica de Colombia)

  • Toca-Toca, Julián Santiago

    (Universidad Santo Tomás de Aquino)

Abstract

Este artículo pretende determinar la incidencia de la política monetaria no convencional de Estados Unidos implementada desde la crisis económica de 2008 sobre cinco mercados emergentes de América Latina. Por lo tanto, se identificó un canal de transmisión de los choques externos, los cuales afectaron en primera medida el rendimiento de los índices bursátiles, y luego se generó el traspaso a las variaciones de las tasas de cambio debido a la expansión de la entrada de flujos capital extranjero a los países en forma de inversión de cartera. También se evidenció, a través de la estimación de modelos de datos panel, la respuesta positiva de los flujos de capital de inversión de cartera a las expansiones de la hoja de balance en cada una de las fases de flexibilidad cuantitativa.

Suggested Citation

  • Gil-León, José Mauricio & Toca-Toca, Julián Santiago, 2020. "Política monetaria no convencional en EE.UU y comportamiento de los mercados emergentes en América Latina," Revista Tendencias, Universidad de Narino, vol. 21(1), pages 24-51, January.
    • Handle: RePEc:col:000520:018578
    DOI: 10.22267/rtend.202101.126
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    References listed on IDEAS

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    More about this item

    Keywords

    política monetaria; relajación cuantitativa; índices bursátiles; flujos de capital;
    All these keywords.

    JEL classification:

    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles
    • F49 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Other
    • G01 - Financial Economics - - General - - - Financial Crises
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G19 - Financial Economics - - General Financial Markets - - - Other

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