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El Balance Fisacl y el Balance en la Cuenta Corriente en Colombia: Canales de Transmisión y Causalidad

  • Jorge Ramos


  • Hernán Rincón


Este documento identifica y evalúa empíricamente los posibles canales de transmisión entre el balance fiscal y el balance en cuenta corriente y determina estadísticamente la posible causalidad ente ellos. Para el período analizado, no se encuentra una clara relación entre los dos balances, y entre ellos y los canales de transmisión identificados por la teoría. Cuando existen indicios estadísticos de un nexo entre los dos balances, el sentido de la relación es inverso al que comúnmente se espera, es decir, se encuentra que el balance en cuenta corriente causa el balance fiscal.

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Paper provided by Banco de la Republica de Colombia in its series Borradores de Economia with number 166.

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Handle: RePEc:bdr:borrec:166
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  1. Leonardo Villar & Hernán Rincón, 2000. "The Colombian Economy In The Nineties: Capital Flows And Foreign Exchange Regimes," BORRADORES DE ECONOMIA 003575, BANCO DE LA REPÚBLICA.
  2. Obstfeld, Maurice & Rogoff, Kenneth, 1995. "The intertemporal approach to the current account," Handbook of International Economics, in: G. M. Grossman & K. Rogoff (ed.), Handbook of International Economics, edition 1, volume 3, chapter 34, pages 1731-1799 Elsevier.
  3. Alberto Carrasquilla & Natalia Salazar, 1992. "Sobre la naturaleza del ajuste fiscal en Colombia," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE, June.
  4. William H. Branson & Willem H. Buiter, 1982. "Monetary and Fiscal Policy with Flexible Exchange Rates," NBER Working Papers 0901, National Bureau of Economic Research, Inc.
  5. Ben S. Bernanke, 1986. "Alternative Explanations of the Money-Income Correlation," NBER Working Papers 1842, National Bureau of Economic Research, Inc.
  6. Hendry, David F. & Learmer, Edward E. & Poirier, Dale J., 1990. "A Conversation on Econometric Methodology," Econometric Theory, Cambridge University Press, vol. 6(02), pages 171-261, June.
  7. Alberto Carrasquilla & Hernán Rincón, 1990. "Relaciones entre déficit público y ahorro privado: Aproximaciones al caso colombiano," Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 9(18), pages 75-98, Diciembre.
  8. Jorge Ramos & Norberto Rdríguez, 1995. "Déficit fiscal y tasas de interés en Colombia," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE, June.
  9. Paul Hallwood & Ronald MacDonald, 2008. "International Money and Finance," Working papers 2008-02, University of Connecticut, Department of Economics.
  10. Willem H. Buiter, 1979. "Time Preference and International Lending and Borrowing in an Overlapping-Generations Model," NBER Working Papers 0352, National Bureau of Economic Research, Inc.
  11. Svensson, Lars E O & Razin, Assaf, 1983. "The Terms of Trade and the Current Account: The Harberger-Laursen-Metzler Effect," Journal of Political Economy, University of Chicago Press, vol. 91(1), pages 97-125, February.
  12. Barro, Robert J., 1974. "Are Government Bonds Net Wealth?," Scholarly Articles 3451399, Harvard University Department of Economics.
  13. Jose Antonio Ocampo Gaviria, 1988. "Una Nota Sobre La Relacion Entre El Financiamiento Externo, Ahorro E Inversion," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE, June.
  14. repec:cup:etheor:v:6:y:1990:i:2:p:171-261 is not listed on IDEAS
  15. Sims, Christopher A, 1980. "Macroeconomics and Reality," Econometrica, Econometric Society, vol. 48(1), pages 1-48, January.
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