Using the 2003 and 2008 Quality of Life Surveys, we identify the factors that affect housing tenure decisions in Colombia and explore the determinants of the demand for rentals and purchases. Variables affecting the choice between buying and renting include civil status, education, age of the...

Introduction. At the end of the 1980s Colombia confronted a situation of low growth and an unsettled domestic security situation. In order to address these issues, a comprehensive reform effort was undertaken starting in 1990. The reform agenda comprised market-driven reforms aimed at enhancing...

In the last decade the issue of the optimal degree of central bank independence has been at the center of attention of academics and policymakers in many countries. The direction of institutional reform has almost universally been toward making central banks more independent from political...

"The purpose of this paper is to describe the budget process reform implemented in Medellín, and to analyze its actual performance and evaluate its success. The reform is changing the way public resources are allocated and executed, while gradually institutionalizing supply and demand-side...

Abstract: The main objective of this paper is to establish a formal relationship between innovation and performance using Colombian firm-level data. We find that, as predicted by the literature, the production of goods and services new to the firm and to the domestic market enhances firms´...

In this paper we explore the role played by policy instruments on the access to housing finance of low-income households. We also analyze the impact of housing credit and subsidies on the quality of life and the quality of dwelling of the beneficiaries. Using the Quality of Life Surveys...

Abstract: In this paper we explore the determinants and the consequences of the development of the corporate bond market in Colombia. We use a large firm-level dataset for the period 1997-2004 and find that the larger, more profitable and more leveraged firms have a higher probability to issue...

Using data from the Gallup World Poll, this paper analyze the way in which perceptions on thequality of education affect wellbeing. In addition, we explore if educational quality perceptions aredetermined by objective educational outputs, such as international standardized tests scores (i.e....

"In this context, the objective of the paper is to propose a set of recommendations on whatneeds to be done in order to assure success of the current growth strategy. We have nodoubts on the value of strengthening Panama´s geographical comparative advantage withthe Canal´s expansion. The key...