Colombia : Selected Issues Paper.

Format:

Book

Government document

Author/Creator:

International Monetary Fund.

Series:

IMF Staff Country Reports; Country Report ; No. 2010/106

IMF Staff Country Reports

Language:

English

Subjects (All):

Economic policy--Colombia.

International finance.

International Monetary Fund.

Local Subjects:

Economic policy--Colombia.

International finance.

International Monetary Fund.

Physical Description:

1 online resource (40 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2010.

Summary:

This Selected Issues paper on Colombia shows that achieving investment grade status would help lower financing costs for the sovereign, and expand the pool of potential buyers of the Colombian economy. Colombia’s debt levels as of end-2008 were broadly similar to the average for investment grade emerging markets, suggesting that other indicators are taken into account in rating agencies’ assessments. A stronger process of fiscal consolidation that results in a significant decline in public sector debt could help compensate the structural weaknesses.

Contents:

Cover; Contents; I. Determinants of Investment Grade Status and Implications for Colombia's Public Debt; A. Introduction; B. Background and Literature Review; Tables; I. 1. Sovereign Credit Ratings by Agency; C. Empirical Model Specification; 2. Main Studies on the Determinants of Sovereign Ratings; 3. Explanatory Variables and Expected Sign; D. Data and Estimation Results; 4. Descriptive Statistics of Countries in the Sample and Investment Grade Status; 5. Test of Equality of Means and Medians of Country Characteristics, by Investment Grade Rating; 6. Regression Results; Figures

I. 1. Emerging Markets: Value of Explanatory Variables at Time of Upgrade to Investment Grade and Five Years Earlier7. Average Partial Effects on the Probability of Investment Grade Status; E. Implications for Colombia; 2. Colombia: Factors Affecting Investment Grade Status; F. Summary and Conclusions; References; Appendices; I. 1. Explanatory Variables; 2. Robustness Analysis; Appendices Tables; I. A1. Alternative Specifications; A2. Regression Results by Rating Agency; II. Financial Soundness and Credit Growth; A. Macro-Financial Linkages in Colombia

II. 1. Colombia: Financial Soundness, Credit and GDP Growth, 1997-2009B. Brief Review of the Literature and Evidence; C. Framework and Estimation; D. Results and Implications for Colombia; Text Table 1. Impact of Colombia's 2009 Financial Soundness Indicators; Text Table 2. Comparison with Other Emerging Markets; E. Concluding Remarks; Text Table 3. Financial Soundness and Monetary Shocks; References; II. 1. Variables - Description and Summary Statistics, 2002-2008; 2. Financial Soundness Indicators; 3. System of Equations, Emerging Markets Sample

4. System of Equations, Interest Rate Effects, Emerging Markets SampleII. 1. The Model; 2. Robustness Tests; II. A1. System of Equations, Sample of 84 Countries

Notes:

Description based upon print version of record.

Description based on print version record.

ISBN:

9786612846809

9781455247110

1455247111

9781452705187

1452705186

9781282846807

1282846809

9781455202652

1455202657

9781455202324