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Inversión y endeudamiento en Colombia: un análisis de financiación y sostenibilidad

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  • Oscar Pérez Rodriguez

Abstract

Resumen El sector financiero ha sido uno de los que han tenido mejor desempeno en anos recientes, sustentado especialmente en un mayor endeudamiento privado y en mayores márgenes de intermediación, que le han permitido obtener ganancias por encima del promedio de la economía. Si bien esta dinámica se presenta como resultado de un buen manejo de la política económica y del dinamismo de nuestra economía, el carácter oligopólico del sector (que le permite imponer y discriminar precios) y la redistribución del ingreso que se genera entre deudores y acreedores, llevan a pensar que se puede estar generando un problema de inestabilidad financiera ante la reducción de los recursos disponibles para inversión y consumo una vez descontados los pagos de las obligaciones crediticias. Si esta hipótesis es cierta, el ritmo de gasto y crecimiento actual de la economía colom- biana se hace insostenible, y estaríamos acercándonos a una crisis de demanda efectiva y alto desempleo.

Suggested Citation

  • Oscar Pérez Rodriguez, 2014. "Inversión y endeudamiento en Colombia: un análisis de financiación y sostenibilidad," Revista CIFE, Universidad Santo Tomás, September.
    • Handle: RePEc:col:000195:013197
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    File URL: http://revistas.usantotomas.edu.co/index.php/cife/article/view/2105
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    References listed on IDEAS

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    More about this item

    Keywords

    financiarización; inversión; deuda; inestabilidad financiera.;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G01 - Financial Economics - - General - - - Financial Crises

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