Inversión y endeudamiento en Colombia: un análisis de financiación y sostenibilidad
Investment and indebtedness in Colombia: A financing and sustainability analysis
Abstract (en)
The financial sector has been one of the top performers in recent years, especially supported by higher private indebtedness and higher net interest margins, which enabled it to obtain profit above the economy´s average. While this dynamic appears to be a result of good management of economic policy and the dynamism of our economy, the oligopolistic nature of the sector (which allows the imposition of prices) and the redistribution of income generated between debtors and creditors, suggest that a problem of financial instability may be generating due to the reduction of resources available for investment and consumption after deducting payments of debt obligations. If this hypothesis is true, the rate of current spending and growth of the Colombian economy is unsustainable, and we would be approaching a crisis of effective demand and high unemployment.Abstract (es)
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