Structural change and financial fragility in the Colombian business sector: A post Keynesian approach

Authors

Gonzalo Cómbita Mora, Universidad de La Salle, Bogota

DOI

https://doi.org/10.15446/cuad.econ.v39n80.82562

Document Type

Article

Publication Date

1-1-2020

Publication Title

Cuadernos de Economia (Colombia)

Abstract

This paper aims to establish the theoretical and empirical link between structural change and financial fragility based on the theories of Thirllwall's Law and Minsky's financial instability. In order to do so, a descriptive and econometric panel analysis is carried out for 1846 Colombian companies during the period 1996-2015. A new indicator of financial fragility is created, and from this a relationship is established between the company's balance sheets, structural change, economic growth, the size of the firm, and the Minsky effect that measures the endogeneity of the debt cycle.

Volume

39

Issue

80

First Page

567

Last Page

594

ISSN

01214772

Recommended Citation

Cómbita Mora, Gonzalo, "Structural change and financial fragility in the Colombian business sector: A post Keynesian approach" (2020). Scopus Unisalle. 108.
https://ciencia.lasalle.edu.co/scopus_unisalle/108

Identifier

SCOPUS_ID:85087696752