Abstract

GALVIS-CIRO, Juan Camilo; HINCAPIE-VELEZ, Guillermo David; OLIVEIRA DE MORALES, Claudio  and  GARCIA-LOPERA, Jaime. The SPREAD of Interest Rates in Colombia for the Period 2010-2020. Lect. Econ. [online]. 2022, n.97, pp.45-78.  Epub Oct 11, 2022. ISSN 0120-2596.  https://doi.org/10.17533/udea.le.n97a345596.

The SPREAD is a measure of the financial system intermediation costs and affects economic growth. This article evaluates the SPREAD determinants for the Colombian economy by the period 2010-2020. We use the dynamic data panel methodology and estimate several models with the generalized moment method (GMM). The results show that the macroeconomic environment, especially unemployment, and the operational efficiency of financial institutions are important factors to explain SPREAD. Furthermore, the market concentration of the financial system is also relevant to explain the intermediation costs.

Keywords : Interest rate; SPREAD; Financial Market; Panel Data.

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