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

Borradores de Economia
Número: 
345
Publicado: 
Clasificación JEL: 
G21, N26, F34
Palabras clave: 
Banking external indebtedness, Business Cycle, cross correlations, dynamic panel data models

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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