Resumen

RAMIREZ VIGOYA, ALEJANDRO  y  CRISTANCHO, LAURA. EFFICIENCY IN THE COLOMBIAN FINANCIAL SECTOR IN THE PERIOD 1995-2008. Rev.fac.cienc.econ. [online]. 2010, vol.18, n.2, pp. 147-156. ISSN 0121-6805.

In this paper the efficiency of fifteen commercial Banks of Colombia during the period 1995 and 2008 is proved. The efficiency is measured through production factors returns, in this case loans and salaries on bank incomes. As theoretical model Cobb-Douglas functions are used, and data panel is used as econometric model. Returns are analyzed in fixed effects model, because the sample is the total of the population of commercial banks in Colombia. The models analyzed are made with effects per year and per bank. One of the interesting results is that banking sector during the analyzed period presents constant returns to scale. There is less efficiency in every bank after 1999 recession period.

Palabras llave : Financial institutions; financial market; financial services.