Securitization in Colombia: twenty years of regulation, 1993-2013

// ABSTRACT IN SPANISH: Cuando se examinan procesos como la titularización cabe preguntar si el comportamiento de los agentes obedece a cambios institucionales o si las modificaciones del régimen normativo son una respuesta al comportamiento del mercado o a necesidades de la economía. Este artículo...

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Published in:Revista de economía institucional 2015-01, Vol.17 (32), p.259-294
Main Author: Blanco Barón, Constanza
Format: Article
Language:Spanish
Subjects:
Colombia
Financial regulation
Institutional change
Market forces
Mortgages
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description // ABSTRACT IN SPANISH: Cuando se examinan procesos como la titularización cabe preguntar si el comportamiento de los agentes obedece a cambios institucionales o si las modificaciones del régimen normativo son una respuesta al comportamiento del mercado o a necesidades de la economía. Este artículo aplica la teoría del cambio institucional de North para examinar los principales hechos que incidieron en el comportamiento de la titularización en general y de la titularización hipotecaria en el mercado colombiano entre 1993 y 2013. // ABSTRACT IN ENGLISH: The analysis of innovative processes such as securitization leads to asking if the behavior of economic agents is a response to the institutional changes with specific objectives, or if the changes in the regulatory regime are the result of market behaviour or needs of the economy. The objective of this paper is to apply the theory of institutional change of North (agent, source, process and way of change) to examine the Colombian market in the period 1993-2013 in order to explore the main events that had an influence on the performance of securitization in general, and mortgage securitization in particular. Reprinted by permission of the Universidad Externado de Colombia
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source International Bibliography of the Social Sciences (IBSS); Business Source Ultimate【Trial: -2024/12/31】【Remote access available】; Publicly Available Content Database; ABI/INFORM Global; EconLit with Full Text【Remote access available】; ProQuest Social Science Premium Collection
subjects Colombia
Financial regulation
Institutional change
Market forces
Mortgages
title Securitization in Colombia: twenty years of regulation, 1993-2013
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