IDEAS home Printed from https://ideas.repec.org/p/bdr/borrec/995.html

Impacto de las Transferencias Condicionadas sobre el Mercado de Crédito El caso de Familias en Acción en Colombia

Author

Listed:

Abstract

Se estima un modelo de regresión discontinua para identificar el efecto del programa de transferencias condicionadas Familias en Acción sobre el acceso al crédito del sector financiero formal en los hogares beneficiarios del área urbana. Se encuentra que el acceso al crédito se incrementa en 3.5 pp, esto es, un 15% en relación a la probabilidad de tener crédito entre los hogares no beneficiarios del programa. El crédito en bancos se incrementa en 2.35 pp, esto es, un 11.7% en relación al grupo de control, y, los hogares beneficiarios tienen crédito con el sector financiero formal 0.44 trimestres más que los hogares no beneficiarios, esto es, 1.3 (14.2%) meses adicionales. Por género, serían las mujeres que viven en hogares beneficiarios del programa, quienes gracias al mismo tienen un acceso al crédito 5.3 pp superior, esto es, una probabilidad un 50% mayor de tener un crédito que las mujeres en hogares no beneficiarios del programa. Respecto a la tasa de interés pagada por los créditos con el sector financiero formal, los hogares beneficiarios pagan una tasa de interés 1.5 pp inferior a la que pagan los hogares no beneficiarios, esto es, una tasa 6% por debajo que la pagada por hogares no beneficiarios. No obstante lo anterior, el monto promedio de los créditos no tiene un diferencial importante entre hogares beneficiarios y no beneficiarios del programa FA en el área urbana.

Suggested Citation

  • Lina Cardona-Sosa & Carlos Medina & Jairo Nuñez Méndez, 2017. "Impacto de las Transferencias Condicionadas sobre el Mercado de Crédito El caso de Familias en Acción en Colombia," Borradores de Economia 995, Banco de la Republica de Colombia.
    • Handle: RePEc:bdr:borrec:995
    DOI: 10.32468/be.995
    as

    Download full text from publisher

    File URL: https://doi.org/10.32468/be.995
    Download Restriction: no
    File URL: https://libkey.io/10.32468/be.995?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Martha Bottia & Lina Cardona-Sosa & Carlos Medina, 2012. "El SISBEN como mecanismo de focalización individual del régimen subsidiado en salud en Colombia: ventajas y limitaciones," Revista de Economía del Rosario, Universidad del Rosario.
    2. Sandra E. Black, 1999. "Do Better Schools Matter? Parental Valuation of Elementary Education," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 114(2), pages 577-599.
    3. Abhijit Banerjee & Sendhil Mullainathan, 2010. "The Shape of Temptation: Implications for the Economic Lives of the Poor," NBER Working Papers 15973, National Bureau of Economic Research, Inc.
    4. Leonardo Morales & Carlos Medina, 2007. "Stratification and Public Utility Services in Colombia: Subsidies to Households or Distortion of Housing Prices?," Economía Journal, The Latin American and Caribbean Economic Association - LACEA, vol. 0(Spring 20), pages 41-99.
    5. Manuela Angelucci & Giacomo De Giorgi, 2009. "Indirect Effects of an Aid Program: How Do Cash Transfers Affect Ineligibles' Consumption?," American Economic Review, American Economic Association, vol. 99(1), pages 486-508, March.
    6. Armando Barrientos & Juan Miguel Villa, 2013. "Antipoverty transfers and labour force participation effects," Global Development Institute Working Paper Series 18513, GDI, The University of Manchester.
    7. Imbens, Guido W. & Lemieux, Thomas, 2008. "Regression discontinuity designs: A guide to practice," Journal of Econometrics, Elsevier, vol. 142(2), pages 615-635, February.
    8. Paul J. Gertler & Sebastian W. Martinez & Marta Rubio-Codina, 2012. "Investing Cash Transfers to Raise Long-Term Living Standards," American Economic Journal: Applied Economics, American Economic Association, vol. 4(1), pages 164-192, January.
    9. Jorge Higinio Maldonado & MarÔøΩa Alejandra Urrea & ma.urrea84@uniandes.edu.co, 2011. "Bancarizacion y acceso a servicios financieros de beneficiarios urbanos del programa Familias en Acci√≥n," Documentos CEDE 7908, Universidad de los Andes, Facultad de Economía, CEDE.
    10. Joshua Angrist & Eric Bettinger & Michael Kremer, 2006. "Long-Term Educational Consequences of Secondary School Vouchers: Evidence from Administrative Records in Colombia," American Economic Review, American Economic Association, vol. 96(3), pages 847-862, June.
    11. David S. Lee & Thomas Lemieux, 2010. "Regression Discontinuity Designs in Economics," Journal of Economic Literature, American Economic Association, vol. 48(2), pages 281-355, June.
    12. Orazio Attanasio & Emla Fitzsimons & Ana Gómez & Martha Isabel Gutierrez & Costas Meghir & Alice Mesnard, 2006. "Child education and work choices in the presence of a conditional cash transfer programme in rural Colombia," IFS Working Papers W06/13, Institute for Fiscal Studies.
    13. Orazio Attanasio & Alice Mesnard, 2006. "The Impact of a Conditional Cash Transfer Programme on Consumption in Colombia," Fiscal Studies, Institute for Fiscal Studies, vol. 27(4), pages 421-442, December.
    14. Lee, David S. & Card, David, 2008. "Regression discontinuity inference with specification error," Journal of Econometrics, Elsevier, vol. 142(2), pages 655-674, February.
    15. Wilbert van der Klaauw, 2002. "Estimating the Effect of Financial Aid Offers on College Enrollment: A Regression-Discontinuity Approach," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 43(4), pages 1249-1287, November.
    16. Adriana Camacho & Emily Conover, 2011. "Manipulation of Social Program Eligibility," American Economic Journal: Economic Policy, American Economic Association, vol. 3(2), pages 41-65, May.
    17. Mark M. Pitt & Shahidur R. Khandker, 1998. "The Impact of Group-Based Credit Programs on Poor Households in Bangladesh: Does the Gender of Participants Matter?," Journal of Political Economy, University of Chicago Press, vol. 106(5), pages 958-996, October.
    18. Orazio Attanasio & Erich Battistin & Alice Mesnard, 2012. "Food and Cash Transfers: Evidence from Colombia," Economic Journal, Royal Economic Society, vol. 122(559), pages 92-124, March.
    19. Hahn, Jinyong & Todd, Petra & Van der Klaauw, Wilbert, 2001. "Identification and Estimation of Treatment Effects with a Regression-Discontinuity Design," Econometrica, Econometric Society, vol. 69(1), pages 201-209, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Francisco Fernández López, 2017. "Impacto de la informalidad laboral sobre el acceso a crédito formal," Coyuntura Económica, Fedesarrollo, vol. 47(1 y 2), pages 169-204.
    2. Orazio Attanasio & Matthew Bird & Lina Cardona-Sosa & Pablo Lavado, 2019. "Freeing Financial Education via Tablets: Experimental Evidence from Colombia," NBER Working Papers 25929, National Bureau of Economic Research, Inc.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mauricio Villamizar‐Villegas & Freddy A. Pinzon‐Puerto & Maria Alejandra Ruiz‐Sanchez, 2022. "A comprehensive history of regression discontinuity designs: An empirical survey of the last 60 years," Journal of Economic Surveys, Wiley Blackwell, vol. 36(4), pages 1130-1178, September.
    2. Raffaello Bronzini & Eleonora Iachini, 2014. "Are Incentives for R&D Effective? Evidence from a Regression Discontinuity Approach," American Economic Journal: Economic Policy, American Economic Association, vol. 6(4), pages 100-134, November.
    3. Orazio P. Attanasio & Lina Cardona-Sosa & Carlos Medina & Costas Meghir & Christian Posso, 2021. "Long Term Effects of Cash Transfer Programs in Colombia," Cowles Foundation Discussion Papers 2293, Cowles Foundation for Research in Economics, Yale University.
    4. Blaise Melly & Rafael Lalive, 2020. "Estimation, Inference, and Interpretation in the Regression Discontinuity Design," Diskussionsschriften dp2016, Universitaet Bern, Departement Volkswirtschaft.
    5. Bauer, Thomas K. & Bender, Stefan & Paloyo, Alfredo R. & Schmidt, Christoph M., 2012. "Evaluating the labor-market effects of compulsory military service," European Economic Review, Elsevier, vol. 56(4), pages 814-829.
    6. Guido W. Imbens & Jeffrey M. Wooldridge, 2009. "Recent Developments in the Econometrics of Program Evaluation," Journal of Economic Literature, American Economic Association, vol. 47(1), pages 5-86, March.
    7. Guido Blasio & Samuele Poy, 2017. "THE IMPACT OF LOCAL WAGE REGULATION ON EMPLOYMENT: A BORDER ANALYSIS FROM ITALY IN THE 1950s," Journal of Regional Science, Wiley Blackwell, vol. 57(1), pages 48-74, January.
    8. David S. Lee & Thomas Lemieux, 2010. "Regression Discontinuity Designs in Economics," Journal of Economic Literature, American Economic Association, vol. 48(2), pages 281-355, June.
    9. Hans van Kippersluis, & Owen O’Donnell & Eddy van Doorslaer, 2011. "Long-Run Returns to Education: Does Schooling Lead to an Extended Old Age?," Journal of Human Resources, University of Wisconsin Press, vol. 46(4), pages 695-721.
    10. Lecce, Steven & Lepone, Andrew & McKenzie, Michael D. & Segara, Reuben, 2012. "The impact of naked short selling on the securities lending and equity market," Journal of Financial Markets, Elsevier, vol. 15(1), pages 81-107.
    11. Caio Piza & André Portela Souza & Patrick M Emerson & Vivian Amorim, 2024. "The Short- and Longer-Term Effects of a Child Labor Ban," The World Bank Economic Review, World Bank, vol. 38(2), pages 351-370.
    12. Baez, Javier E. & Camacho, Adriana, 2011. "Assessing the Long-term Effects of Conditional Cash Transfers on Human Capital: Evidence from Colombia," IZA Discussion Papers 5751, IZA Network @ LISER.
    13. Guido de Blasio & Samuele Poy, 2014. "The impact of local minimum wages on employment: evidence from Italy in the 1950s," Temi di discussione (Economic working papers) 953, Bank of Italy, Economic Research and International Relations Area.
    14. Montoya, Ana Maria & Noton, Carlos & Solis, Alex, 2018. "The Returns to College Choice: Loans, Scholarships and Labor Outcomes," Working Paper Series 2018:12, Uppsala University, Department of Economics.
    15. Dragan Filipovich & Miguel Niño-Zarazúa & Alma Santillán Hernández, 2018. "Campaign externalities, programmatic spending, and voting preferences in rural Mexico: The case of Progresa-Oportunidades-Prospera programme," WIDER Working Paper Series 027, World Institute for Development Economic Research (UNU-WIDER).
    16. Zurab Abramishvili & Lasha Lanchava, 2015. "Education for the Poor," CERGE-EI Working Papers wp542, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    17. Matias D. Cattaneo & Rocío Titiunik, 2022. "Regression Discontinuity Designs," Annual Review of Economics, Annual Reviews, vol. 14(1), pages 821-851, August.
    18. Del Bono, Emilia & Francesconi, Marco & G. Best, Nicky, 2011. "Health information and health outcomes: an application of the regression discontinuity design to the 1995 UK contraceptive pill scare case," ISER Working Paper Series 2011-16, Institute for Social and Economic Research.
    19. Dragan Filipovich & Miguel Niño-Zarazúa & Alma Santillán Hernández, 2018. "Campaign externalities, programmatic spending, and voting preferences in rural Mexico: The case of Progresa-Oportunidades-Prospera programme," WIDER Working Paper Series wp-2018-27, World Institute for Development Economic Research (UNU-WIDER).

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    JEL classification:

    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bdr:borrec:995. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Clorith Angélica Bahos Olivera (email available below). General contact details of provider: https://edirc.repec.org/data/brcgvco.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.