Servicios
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The Banco de la República was established as the Central Bank of Colombia on the 25th of July 1923 by means of Law 25. The Bank was organised as an anonymous society with a starting capital of 10 million in gold, of which the Government provided 50% and foreign and national commercial banks as well…
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The history of economic recessions has shown that every deep downturn has been accompanied by disruptions in the
financial sector. Paradoxically, up until the
financial world crisis of 2007-2009, little attention was given to macroeconomic and
financial interdependence. And, in spite of a…
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In this paper, we build a heterogeneous agents-dynamic general equilibrium model wherein saving constraints interact with credit constraints. Saving constraints in the form of fixed costs to use the financial system lead households to seek informal saving instruments (cash) and result in lower…
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The opinions contained in this document are the sole responsibility of the authors and do not commit Banco de la República or its Board of Directors.
ABSTRACT
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In this paper we investigate the impact of rapid credit growth on ex ante credit risk. We present micro-econometric evidence of the positive relationship between rapid credit growth and deterioration in lending portfolios: Loans granted during boom periods have higher probability of default than…
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This paper proposes an empirical model to identify and forecast banking fragility episodes using information on the credit funding sources. We predict the probability of occurrence of such episodes 0, 3 and 6 months ahead employing a Bayesian Model Averaging of logistic regressions. The exercises…
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Starting on 22 March 2025, credit institutions (CIs) will exchange and provide small-value denomination banknotes and coins to their customers under the guidelines established in the External Resolution 02 of 22 March 2024 (Only in Spanish) issued by Banco de la República (the Central Bank of…
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The recent financial crisis has renewed the interest of economists, both at the theoretical and empirical level, in developing a better understanding of credit and its mechanisms. A rapidly growing strand of the literature views banks as facing funding restrictions that condition their borrowing to…
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Since: 2000 | Until: 2012 | Frequency: Annual
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ApproachThis study examines a key question for territorial policy in Colombia: Does dividing the country into more departments make sense as a strategy to reduce poverty and foster local economic development? Throughout Colombian history, new departments have been created under the premise that…
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AbstractThe role of education in promoting social mobility has been highlighted in the literature. But how much mobility have high-quality universities yielded historically? This research focuses on a case study of historical social mobility in access to high-quality education in…
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Approach This study examines the evolution of gender roles and time use in Colombia throughout the 20th century and into the 21st, using microdata from the population censuses conducted between 1964 and 2018, as well as the National Time Use Surveys (ENUT) from 2016–2017 and 2020–2021. These…
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AbstractColombia experienced one of the fastest declines in fertility in the world: children per woman fell from 7 in 1960 to 3 in 1985. Despite the country's significant inequalities, the regional aspect of this decline has been overlooked in previous research. This article examines…
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AbstractAcross the world educated women tend to have fewer children than their less-educated peers. This paper provides new stylised facts about the long-run relationship between women’s education and fertility at both the national and individual levels. I focus on Colombia, a…
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AbstractCan radio campaigns affect fertility? This paper examines the impact of a national radio campaign promoting family planning clinics in late 1960s Colombia on the country's rapid fertility decline. The campaign, initiated by Profamilia in 1969, provided information about the location of…
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AbstractThis paper examines the career path of women in central banks, particularly at the Banco de la República of Colombia throughout its 100-year history, and also examines the experience of other central banks around the world to provide an international context. Given the scarce historical…
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Since: 1999
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AbstractLa Matuna is an area located in the heart of the historic center of Cartagena de Indias, between El Centro, San Diego and Getsemaní, which makes it an area of special interest for the city. Despite its location and some constructions that occurred at the end of the 19th century…
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Buenaventura - Cultural Agency
Florencia - Cultural Agency
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Since: 1960
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We test current account sustainability based on the framework developed by Hakkio and Rush [1991] and Husted [1992] using a two-regime threshold vector error correction model. This methodology allows us to characterize short-run nonlinearities in the current account. We estimate the model for four…
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Find information on the economic activity of eight regions of the country during the third quarter of the year in the most recent Regional Economic Bulletins (Boletines Económicos Regionales, BER).
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Imports Services & transfers Capital
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