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Sector externo y política cambiaria en Colombia 1999-2002: del desequilibrio externo al equilibrio precario

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  • Mesa Callejas, Ramón Javier
  • Ramos O., Elizeth

Abstract

Resumen: En este artículo se analizan las condiciones que permitieron alcanzar el equilibrioexterno en Colombia en el período 1999-2002, asociadas con el desempeno del sector externo y con la evolución de la política cambiaria. La hipótesis principal senala que el equilibrio logrado fue precario, debido al escaso nivel de crecimiento económico, la reducción sustancial de las importaciones y las bajas tasas de ahorro. Seguidamente, un análisis de la evolución de la política cambiaria en el cuatrienio permite argumentar, en primera instancia, como la política de ajuste implementada en el último ano del régimen de banda terminó por acelerar aún más el deterioro de la actividad. En segunda instancia, la adopción del esquema de libre mercado ha permitido lograr hasta el momento un mayor grado de autonomía de la política monetaria y una disociación de corto plazo entre el tipo de cambio y las reservas internacionales.

Suggested Citation

  • Mesa Callejas, Ramón Javier & Ramos O., Elizeth, 2003. "Sector externo y política cambiaria en Colombia 1999-2002: del desequilibrio externo al equilibrio precario," Perfil de Coyuntura Económica, Universidad de Antioquia, CIE, October.
    • Handle: RePEc:col:000165:005080
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    References listed on IDEAS

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    1. Kenneth Rogoff, 1996. "The Purchasing Power Parity Puzzle," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 647-668, June.
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    Cited by:

    1. Hernández Monsalve, Mauricio A. & Mesa, Ramón Javier, 2006. "La experiencia colombiana bajo un régimen de fluctuación controlada del tipo de cambio: el papel de las intervenciones bancarias," Revista Lecturas de Economía, Universidad de Antioquia, CIE, September.

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    More about this item

    Keywords

    equilibrio externo; déficit en cuenta corriente; política de ajuste; política cambiaria; régimen de tipo de cambio flexible;
    All these keywords.

    JEL classification:

    • E0 - Macroeconomics and Monetary Economics - - General

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