Sudden Stops y programas de compra de activos en un panel de economías emergentes

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dc.contributor.advisorGarcía Molina, Mariospa
dc.contributor.authorBotero Ramírez, Oscar Davidspa
dc.date.accessioned2025-07-16T20:45:59Z
dc.date.available2025-07-16T20:45:59Z
dc.date.issued2025
dc.descriptionilustraciones, diagramasspa
dc.description.abstractEn este documento se examina el efecto de las compras de activos realizadas por bancos centrales de un panel de economías emergentes sobre la probabilidad de ocurrencia de frenazos de capital. Utilizando un panel que abarca datos de flujos de inversión extranjera para 22 economías emergentes de 2004 a 2021, se encuentra que un aumento de mil millones de dólares en las tenencias de títulos de deuda pública en moneda local por parte del banco central disminuye la probabilidad de ocurrencia de frenazos de capital leves en 1,36%. Además, que el banco central haya realizado programas extraordinarios de compras de activos durante la pandemia reduce la probabilidad de ocurrencia de este tipo de paradas repentinas en 43,51%. Estos resultados se encuentran en línea con la literatura que asocia las compras de activos de bancos centrales con un canal de confianza, bajo el cual los inversionistas ven a esta entidad como un comprador de ultima instancia, contribuyendo a mitigar la volatilidad de los mercados en los que se interviene y, por ende, las salidas de capitales. (Texto tomado de la fuente).spa
dc.description.abstractThis document examines the effect of asset purchases by central banks in a panel of emerging economies on the probability of sudden stops in capital flows. Using a panel dataset covering foreign investment flows for 22 emerging economies from 2004 to 2021, it is found that an increase of 1 billion dollars in central bank holdings of local currency government debt securities decreases the probability of mild sudden stops by 1,36 %. Additionally, central bank extraordinary asset purchase programs during the pandemic reduce the probability of such sudden stops by 43,51 %. These results align with the literature that associates central bank asset purchases with a confidence channel, whereby investors view the central bank as a buyer of last resort, helping to mitigate market volatility in the intervened markets and, consequently, capital outflows.eng
dc.description.degreelevelMaestríaspa
dc.description.degreenameMagíster en Ciencias Económicasspa
dc.format.extent29 páginasspa
dc.format.mimetypeapplication/pdfspa
dc.identifier.instnameUniversidad Nacional de Colombiaspa
dc.identifier.reponameRepositorio Institucional Universidad Nacional de Colombiaspa
dc.identifier.repourlhttps://repositorio.unal.edu.co/spa
dc.identifier.urihttps://repositorio.unal.edu.co/handle/unal/88351
dc.language.isospaspa
dc.publisherUniversidad Nacional de Colombiaspa
dc.publisher.branchUniversidad Nacional de Colombia - Sede Bogotáspa
dc.publisher.departmentEscuela de Economíaspa
dc.publisher.facultyFacultad de Ciencias Económicasspa
dc.publisher.placeBogotá, Colombiaspa
dc.publisher.programBogotá - Ciencias Económicas - Maestría en Ciencias Económicasspa
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dc.rights.accessrightsinfo:eu-repo/semantics/openAccessspa
dc.rights.licenseReconocimiento 4.0 Internacionalspa
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/spa
dc.subject.ddc330 - Economía::332 - Economía financieraspa
dc.subject.jelF32 Current Account Adjustment • Short-Term Capital Movements
dc.subject.proposalCompras de activosspa
dc.subject.proposalFlujos de capitalspa
dc.subject.proposalInversión extranjeraspa
dc.subject.proposalMercados emergentesspa
dc.subject.proposalFrenzaos repentinos de capitalspa
dc.subject.proposalAsset purchasesspa
dc.subject.proposalCapital flowseng
dc.subject.proposalEmerging marketseng
dc.subject.proposalForeign investmenteng
dc.subject.proposalSudden stopseng
dc.subject.unescoFinanzas y comerciospa
dc.subject.unescoFinance and tradeeng
dc.subject.unescoComercio internacionalspa
dc.subject.unescoInternational tradeeng
dc.subject.unescoInstrumento internacionalspa
dc.subject.unescoInternational instrumentseng
dc.titleSudden Stops y programas de compra de activos en un panel de economías emergentesspa
dc.title.translatedSudden stops and asset purchase programs in a panel of emerging economieseng
dc.typeTrabajo de grado - Maestríaspa
dc.type.coarhttp://purl.org/coar/resource_type/c_bdccspa
dc.type.coarversionhttp://purl.org/coar/version/c_ab4af688f83e57aaspa
dc.type.contentTextspa
dc.type.driverinfo:eu-repo/semantics/masterThesisspa
dc.type.redcolhttp://purl.org/redcol/resource_type/TMspa
dc.type.versioninfo:eu-repo/semantics/acceptedVersionspa
dcterms.audience.professionaldevelopmentInvestigadoresspa
dcterms.audience.professionaldevelopmentPúblico generalspa
oaire.accessrightshttp://purl.org/coar/access_right/c_abf2spa

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