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Paper presented at Money and Banking Conference “Lessons and Challenges for Emerging Countries during the Crisis”.

The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors. 

The surge in Colombian sovereign international bond issues during the 1990s has created an increasing need for the Colombian Government and the Banco de la República to understand the dynamics and the determinants of the sovereign spread. This is the first comprehensive study of the Colombian…

This paper studies the determinants of the probability of participating in a process of merging or acquisition for financial institutions in Colombia. We use survival analysis techniques and competing risks models to estimate the probability of participating in such processes as an acquiring or…

 Documento en:http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6W8Y-4Y64512-… 

The Colombian islands of San Andres and Providence, located 180 kilometers of the coast of Nicaragua, and initially populated by English settlers and their slaves, were characterized until 1953 by having a population which was predominantly English speaking, Protestant and black. However, since the…

Abstract This paper reviews the studies on corruption in Colombia, the main definitions,some stylized factsand their typeof measurements. Likewise, it presents the series of the main corruption measures available in the countrybased on data from entities such as the Contraloría General de la…

We use hedonic price models to estimate the value households are willing to pay to avoid crime, and in particular, high homicides rates, in Bogotá. We and find that households living in the highest socioeconomic stratum, stratum 6, are paying up to 7.2% of their house values to keep their average…

We use hedonic price models to estimate the value households are willing to pay to avoid violent crime in the city of Bogotá. We find that households living in the highest socioeconomic level (stratum 6) pay up to 7.2% of their house values in order to prevent average homicide rates from increasing…

Under the view that the market is a weighted and directed network (Barabási, 2003), this document is a first attempt to model the Colombian money market within a spatial econometrics framework. By estimating two standard spatial econometric models, we study the cost of collateralized borrowing (i.e…

The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors. 

  Abstract This document studies the period 1980-1984 during which the Banco de la República began its cultural programming in Cartagena and, specifically, how it was incorporated into its previous artistic dynamics.

Abstract: In this paper we try to elucidate the relationship between foreign and domestic banks external indebtedness and the business cycle in Colombia. After a brief review of related literature, we characterize the historical behavior of banking external indebtedness in Colombia, and perform…

This work uses readily accessible data about the stocks of unemployed workers, labor force and duration of unemployment to measure the job finding and separation rates for Colombia from 1984 to 2014. It also evaluates the relative contribution of these rates to the fluctuations of unemployment rate…

This paper measures the impact of strengthening the security policy on the rural labour market in Colombia by exploiting the structural change in the number of rural seizures. The new policy produced dissimilar effects across gender, age-groups, and types of occupation. For adults, especially for…

The demographic transition from high to low mortality and fertility rates was one of the most important structural changes during the twentieth Century in most Latin American economies. This paper uses a simple economic framework based on Galor and Weil (2000) for understanding the main forces…

The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors. 

Abstract The objective of this paper is to study the evolution of liquidity in the spot foreign exchange market in Colombia and its main determinants from 2006 and 2020. First, we analyze different dimensions of liquidity such as transaction costs and resilience. We achieve our objective by…

Foreword I am very happy to present this book because it highlights the role of microfinance institutions (MFIs) in the financial inclusion of the most vulnerable population and its impact on the economic development of the country.

The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.  

The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors. 

The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors. 

We use a unique data set at the individual level to estimate an empirical model explaining the probability of young individuals to become criminals as a function of the presence of adult criminals in their neighborhoods, an a complete set of control variables, including census sector fixed effects…