Spanish Abstract:</B> Con base en el universo de emisores del mercado de renta variable en Colombia se construye un índice de precios, retornos y dividendos para el período 1995- 2017. La serie de retornos totales del mercado accionario, que muestra un promedio histórico de 19.07% (0.60 en...

Many emerging economies have regulatory limits on foreign exchange rates net open positions of banks. We show that such limits leave the capital adequacy ratios of banks with investments in foreign subsidiaries more exposed to exchange rate fluctuations. We discuss alternative policies for...