Journal ESPE

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Statistical analyses show that, after controlling for the accumulation of productive factors, the joint effect of the diversification of manufacturing inputs and the urban population purchasing power has a positive and significant impact on the Colombian economic growth. Furthermore, there is…

The analysis of productivity performance of the Mexican Northern Border offers an interesting case study for that objective. This is because it combines mobile growth factors due to regional reallocation of economic activity and, on the other hand, the fact that factors that are considered…

This paper examines the structure and dynamics of institutionalised flows of credit between economic sectors – with a distinct emphasis on industry – during the era of import-substitution industrialisation. Using the debate between “balanced vs. unbalanced growth” theories as prompting guide,…

This paper analyses the effectiveness of official interventions of the Colombian Central Bank in the foreign exchange market over the period of June 2008–December 2013. The estimation procedure suggested by Hansen (2000) is used to estimate a threshold model for the spot exchange rate that…

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. In this paper, a study is…

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Central banks in G7 countries shifted to unconventional policy measures in the aftermath of the Financial Crisis, when faced with economic slack, financial instability and fiscal trouble. This shift ended a spell of rules-based time consistent monetary policy that started in the mid-1980s. I…