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Burbuja y Estancamiento del Crédito en Colombia

Listed author(s):
  • Fernando Tenjo

    ()

  • Enrique López

    ()

Uno de los problemas más graves que ha afectado a la economía colombiana en los últimos años es la virtual parálisis del mercado crediticio. Si bien ha ganado aceptación la idea de que la poca dinámica de la cartera crediticia al sector privado está relacionada con la crisis que registró la economía colombiana en 1999, es un hecho que esa misma situación se ha presentado en buena parte de los países emergentes. Este grupo de países comparten episodios previos de reforma estructural y ciclos de afluencia de capitales externos, que fueron seguidos de crisis cambiarias y bancarias. El objetivo de este documento es interpretar la caída del crédito en la economía colombiana en los últimos años. Se trata de mostrar que la pobre dinámica del crédito en Colombia es reflejo del ajuste de los distintos agentes a los efectos de la crisis productiva y del sistema financiero de finales de la década pasada. A su vez, la naturaleza de estos efectos se explica a partir de la forma como la economía asimiló las reformas estructurales de comienzos del período y los flujos de capital externo que vinieron posteriormente.

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Paper provided by Banco de la Republica de Colombia in its series Borradores de Economia with number 215.

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Date of creation: Aug 2002
Handle: RePEc:bdr:borrec:215
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