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The SPREAD of Interest Rates in Colombia for the Period 2010-2020

Author

Listed:
  • Juan Camilo Galvis-Ciro

    (Universidad Pontificia Bolivariana)

  • Guillermo David Hincapié-Vélez

    (Universidad Pontificia Bolivariana)

  • Claudio Oliveira de Morales

    (Banco Central de Brasil)

  • Jaime García-Lopera

    (Universidad Autónoma Latinoamericana)

Abstract

The SPREAD is a measure of the financial system intermediation costs and affects economic growth. This article evaluates the SPREAD determinants for the Colombian economy by the period 2010-2020. We use the dynamic data panel methodology and estimate several models with the generalized moment method (GMM). The results show that the macroeconomic environment, especially unemployment, and the operational efficiency of financial institutions are important factors to explain SPREAD. Furthermore, the market concentration of the financial system is also relevant to explain the intermediation costs.

Suggested Citation

  • Juan Camilo Galvis-Ciro & Guillermo David Hincapié-Vélez & Claudio Oliveira de Morales & Jaime García-Lopera, 2022. "The SPREAD of Interest Rates in Colombia for the Period 2010-2020," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 97, pages 45-78, July-Dece.
    • Handle: RePEc:lde:journl:y:2022:i:97:p:45-78
    DOI: 10.17533/udea.le.n97a345596
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    More about this item

    Keywords

    Interest rate; SPREAD; Financial Market; Panel Data.;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services

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