"This volume traces the history of the 1991 reorganization of Colombia's central bank, resulting from constitutional changes. Perspectives from then Finance Minister R. Hommes, key constitution framers, and central bank technocrats make evident the different interests at stake in the process,...

This study examines how depositors choose among different banks and over time in Colombia, focusing on whether they discipline bank behavior. By controlling for a more comprehensive set of risk/return factors, the study improves upon conventional market discipline tests. Panel data estimations...

This paper deals with three aspects related to the value added tax in Colombia. First, we show that althogh the VAT's "productivity" is at an acceptable level according to international standards, it has recently been declining. Second, we estimate tax evasion/elusion for 1994. Our results...