This paper evaluates the degree to which Colombian firms face credit restrictions that alter their investment decisions. It analyzes whether the evolution of the financial sector during the 1990s, characterized by an intense financial liberalization, an increase in size and a deepening of the...

This paper studies the nature of systemic risk as an ongoing threat within the Colombian financial system, focusing on the derivatives market and SIFIs' designation design. By doing so, it overviews the leading literature on systemic risk to shed light on how it builds up at the institutional...