"This volume traces the history of the 1991 reorganization of Colombia's central bank, resulting from constitutional changes. Perspectives from then Finance Minister R. Hommes, key constitution framers, and central bank technocrats make evident the different interests at stake in the process,...

This study examines how depositors choose among different banks and over time in Colombia, focusing on whether they discipline bank behavior. By controlling for a more comprehensive set of risk/return factors, the study improves upon conventional market discipline tests. Panel data estimations...

Tax incentives have traditionally been used as a tool by public policy makers in order to correct or reduce market failures. However, there is a widespread debate, in the international literature, about whether they can or not reaching this goal. In this paper, we propose a methodology to assess...

The fiscal situation in Colombia has been deteriorating over recent years, as seen in various fiscal indicators. Among the policy actions that can be made to avoid making the situation worse, is the increase of tax collections and thus generate an increase in revenue for the nation. Using a...

This paper deals with three aspects related to the value added tax in Colombia. First, we show that althogh the VAT's "productivity" is at an acceptable level according to international standards, it has recently been declining. Second, we estimate tax evasion/elusion for 1994. Our results...

“La negociación en curso para suscribir un Tratado de Libre Comercio (TLC) entre Colombia y Estados Unidos incluye la estructuración de un capítulo sobre Servicios Financieros, que definirá las disciplinas que gobernarán el intercambio de esos servicios entre las partes. Con el objeto de...