Resumen

SARMIENTO ESPINEL, JAIME ANDRÉS  y  CRISTANCHO GIRALDO, LAURA ANDREA. EVOLUTION OF FINANCIAL SYSTEM IN COLOMBIA (1980-2007). Rev.fac.cienc.econ. [online]. 2009, vol.17, n.1, pp.25-56. ISSN 0121-6805.

The evolution and structure of Colombian financial system is studied in this document. Its development has focused on banking; while stock market maintains incipient. Reforms at the beginnings of nineties, implementation of multibank and stock market unification are some of most relevant changes. However, credit access is limited, banking efficiency and its competence could increase, last tributary and regulatory measures have been adverse and yet it is necessary to adjust the regulation to create advantaging conditions for the investors.

Palabras clave : financial system; capital markets; financial reform; market liberalization; regulation.

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