Fragilidad financiera de las firmas en Colombia, 2000-2006: un análisis discriminante de un modelo Minskiano

Jorge Iván Rodríguez Bernate and Álvaro Martín Moreno Rivas

Econógrafos, Escuela de Economía from Universidad Nacional de Colombia, FCE, CID

Abstract: Based on Foley (2003), this article sets the financial situations of firms, classifying hedges, speculatives and Ponzi. On the other hand, it applies a discriminant analysis, a multivariate technique that classify empirically based on the financial indexes. As a result, the theoretical and empirical classifications are consistent and these shows that in the growing phase of a boom, there is a high percentage of hedge firms, and in turn, arises a slight spoilage of your financial stability. Thus, that gives an empirical evidence of relevant assertions of the Financial Instability Hypothesis; prove the microeconomic segment of Foley (2003) and sets out an alternative indicator of the financial fragility.

Keywords: Hipótesis de inestabilidad financiera; dinámica de financiamiento; análisis discriminante. (search for similar items in EconPapers)
JEL-codes: E12 E44 G01 (search for similar items in EconPapers)
Pages: 42
Date: 2011
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Published in Econografos

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Persistent link: https://EconPapers.repec.org/RePEc:col:000176:022997

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