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    On the relationship between foreign portfolio investment and the exchange rate: A causality study for Colombia 2000 to 2014

    Sobre la relación entre inversión extranjera de cartera y la tasa de cambio: un estudio de causalidad para Colombia 2000-2014.

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    Parra Moreno, Carlos Fernando
    Rosero, Omar
    Pinzón, Jose
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    https://revistas.usantotomas.edu.co/index.php/cife/article/view/4655
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    TY - GEN T1 - On the relationship between foreign portfolio investment and the exchange rate: A causality study for Colombia 2000 to 2014 T1 - Sobre la relación entre inversión extranjera de cartera y la tasa de cambio: un estudio de causalidad para Colombia 2000-2014. AU - Parra Moreno, Carlos Fernando AU - Rosero, Omar AU - Pinzón, Jose PB - Universidad Santo Tomás AB - This paper presents an causality analysis between the exchange rate and the flow offoreign portfolio investment for Colombia during the period 2000-2014. The rapid growth of these flows deserves attention given their importance in the development of the capital market and its dynamics comprises a hard control. Through a VAR model and Granger causality tests, it is shown that the FPI has no significant effect on the behavior of the exchange rate and vice versa. These results show the complex relationship between the two variables, consistent with international evidence. ER - @misc{11634_13406, author = {Parra Moreno Carlos Fernando and Rosero Omar and Pinzón Jose}, title = {On the relationship between foreign portfolio investment and the exchange rate: A causality study for Colombia 2000 to 2014Sobre la relación entre inversión extranjera de cartera y la tasa de cambio: un estudio de causalidad para Colombia 2000-2014.}, year = {}, abstract = {This paper presents an causality analysis between the exchange rate and the flow offoreign portfolio investment for Colombia during the period 2000-2014. The rapid growth of these flows deserves attention given their importance in the development of the capital market and its dynamics comprises a hard control. Through a VAR model and Granger causality tests, it is shown that the FPI has no significant effect on the behavior of the exchange rate and vice versa. These results show the complex relationship between the two variables, consistent with international evidence.}, url = {} }RT Generic T1 On the relationship between foreign portfolio investment and the exchange rate: A causality study for Colombia 2000 to 2014 T1 Sobre la relación entre inversión extranjera de cartera y la tasa de cambio: un estudio de causalidad para Colombia 2000-2014. A1 Parra Moreno, Carlos Fernando A1 Rosero, Omar A1 Pinzón, Jose PB Universidad Santo Tomás AB This paper presents an causality analysis between the exchange rate and the flow offoreign portfolio investment for Colombia during the period 2000-2014. The rapid growth of these flows deserves attention given their importance in the development of the capital market and its dynamics comprises a hard control. Through a VAR model and Granger causality tests, it is shown that the FPI has no significant effect on the behavior of the exchange rate and vice versa. These results show the complex relationship between the two variables, consistent with international evidence. OL Spanish (121)
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    • Revista CIFE: Lecturas de Economía Social [310]
    Abstract
    This paper presents an causality analysis between the exchange rate and the flow offoreign portfolio investment for Colombia during the period 2000-2014. The rapid growth of these flows deserves attention given their importance in the development of the capital market and its dynamics comprises a hard control. Through a VAR model and Granger causality tests, it is shown that the FPI has no significant effect on the behavior of the exchange rate and vice versa. These results show the complex relationship between the two variables, consistent with international evidence.
     
    En este trabajo se desarrolla un análisis de causalidad entre la tasa de cambio y los flujos de inversión extranjera de cartera para Colombia durante el periodo 2000 a 2014. El rápido crecimiento de dichos flujos merece la atención dada su importancia en el desarrollo del mercado de capitales y su dinámica, que comprende un lemento de difícil control. A través de un modelo VAR y pruebas de causalidad de Granger, se muestra que la inversión extranjera de cartera no tiene efectos significativos sobre el comportamiento de la tasa de cambio y viceversa. Los resultados muestran la compleja relación entre las dos variables, consistentes con la evidencia internacional.
     

     

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    • Universidad Abierta y a Distancia
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    • Convento Santo Domingo
    Infotegra S.A.S