The Cyclical Behavior of External Indebtedness: The Case of Foreign and Domestic Banks in Colombia

Borradores de Economia
Number: 
345
Published: 
Classification JEL: 
G21, N26, F34
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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In this paper we try to elucidate the relationship between foreign and domestic banks external indebtedness and the business cycle in Colombia. After a brief review of related literature, we characterize the historical behavior of banking external indebte