The crisis of 1999 was Colombia's most significant economic crisis since the civil war of 1899-1902: GDP fell by 4.2% in one year and the unemployment rate reached 16%. The trigger of the crisis was an international crisis that reduced capital inflows. Colombia was vulnerable to a reduction in...

The 1980s debt crisis brought havoc to most Latin American economies, with some countries reducing their GDP by more than 10% in a year. A remarkable exception was Colombia, where the economic crisis was very mild. The Colombian GDP did not fall in any year, there was no public debt default or...

This article analyzes the tax revenues of the Colombian central government and those of the federal states between 1850 and 1882. It aims to determine whether political decentralization of revenues and expenditures favored and improved the fiscal sustainability of Colombia during this period....

This paper examines the relationship between risk, concentration and the exercise of market power by banking institutions. We use monthly balance-sheet and interest rate data for the Colombian banking system from 1997 to 2006.The evidence shows that, in the face of high risk, banks transfer a...

The resilience of firms to industry-wide shocks has positive externalities in industries with systemic risk, such as banking. We study the resilience of banks to macroeconomic slowdowns in a context of lax microprudential regulations: Colombia during the 1980s. Multiple banks performed poorly...

This paper investigates the role of reputability and public policy on the shipper’s willingness to pay for visibility features in an emerging market. In recent years, vehicle visibility has penetrated rapidly into business thanks to geographic positioning systems (GPS) devices, which allow...

The English version of this paper can be found at http://ssrn.com/abstract=4292215.Spanish Abstract: Estudiamos la resiliencia de los bancos a crisis macroeconómicas en un contexto de regulaciones microprudenciales laxas: Colombia durante la crisis de los 1980s. Múltiples bancos se quebraron...

This article analyzes the tax revenues of the Colombian central government and those of the federal states between 1850 and 1882. It aims to determine whether political decentralization of revenues and expenditures favored and improved the fiscal sustainability of Colombia during this period....