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La hipótesis de inestabilidad financiera de Minsky en una economía abierta


  • Jimmy Melo



Este artículo busca ampliar el análisis de Minsky para el caso de una economía abierta y muestracomo los flujos de capital amplifican los desequilibrios acumulados a lo largo del boom deinversión, lo cual hace que la economía sea más frágil y propensa a crisis. Se establece la dificultadde guiar la política macroeconómica usando como únicos indicadores el nivel de reservasinternacionales o la relación reservas internacionales a deuda. Se explora el uso de los controlesde capital para atenuar el crecimiento de la cartera especulativa en la fase ascendente del ciclo. Seconcluye que la dinámica del boom de inversiones, en el modelo de la hipótesis de inestabilidadpara una economía abierta, se ve atenuada y el grado de fragilidad de la economía se mitiga con eluso de controles de capital.

Suggested Citation

  • Jimmy Melo, 2012. "La hipótesis de inestabilidad financiera de Minsky en una economía abierta," ENSAYOS DE ECONOMÍA 010333, UNIVERSIDAD NACIONAL DE COLOMBIA SEDE MEDELLIN.
  • Handle: RePEc:col:000418:010333

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    References listed on IDEAS

    1. Juan Camilo Restrepo S., 1985. "Reflexiones sobre la rentabilidad empresarial en Colombia," Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 4(7), pages 11-25, Junio.
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    More about this item


    Minsky; Inestabilidad Financiera; economía abierta; controles de capital;

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G01 - Financial Economics - - General - - - Financial Crises

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