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b. El crédito al Gobierno

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c. El crédito al sector privado

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d. Armonía de los estatutos del Banco en relación con otros proyectos de la Misión
Kemmerer

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La economía colombiana en la Revista del Banco de la República, 1927-2015

e. Conclusiones

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El panorama: la economía y las instituciones monetarias

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+DFLHQGDUHFRQRFLyTXHHOFUpGLWRGHO%DQFRDO*RELHUQRHQYLUWXGGHOHVWDGRGHHPHUJHQFLDHFRQyPLFDSRGUtD
VHUOHJtWLPRVLHPSUH\FXDQGRVHFRQWDUDFRQHOFRQWUROFRQVWLWXFLRQDOGHO&RQJUHVR LQWHUYHQFLyQGHOPLQLVWUR
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GHOGHOHJDWDULR$OIRQVR3DODFLR5XGDV$FWDGHODVHVLyQSOHQDULDGHOGHPD\RGH 


La economía colombiana en la Revista del Banco de la República, 1927-2015

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Q~P 

60
El panorama: la economía y las instituciones monetarias

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VLJXLHQWHVWpUPLQRV
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VHWUDWDGHXQDUHVSRQVDELOLGDGH[FOXVLYDGHHVDHQWLGDGVLQRTXHFRUUHVSRQGH
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OtWLFDGHXQJRELHUQRVLQRFRPRODE~VTXHGDGHFRKHUHQFLD\FRRSHUDFLyQHQWUH

61
La economía colombiana en la Revista del Banco de la República, 1927-2015

ODVDXWRULGDGHVHFRQyPLFDVHQHOGHVDUUROORGHODSROtWLFDHFRQyPLFDGHOHVWDGR
WDO\FRPRORLQGLFDURQFRQSUHFLVLyQORV&RQVWLWX\HQWHV &RUWH&RQVWLWXFLRQDO
 

8QR GH ORV IUXWRV PiV GHVWDFDGRV GHO HMHUFLFLR GH OD FRRUGLQDFLyQ HV HO GH KDEHU
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$VtORKDQGHVWDFDGRSHUVRQDOLGDGHVTXHSDUWLFLSDURQHQHOGLVHxRGHSROtWLFDVWDQWREDMR
HOUpJLPHQPRQHWDULRDQWHULRU²FXDQGROD-XQWD0RQHWDULDHUDODDXWRULGDGPRQHWDULD
FDPELDULD\FUHGLWLFLD²FRPREDMRHOFUHDGRSRUOD&RQVWLWX\HQWHGH 8UUXWLD
 

d. Conclusiones

$SDUWLUGHODUHIRUPDGHOD&DUWDHQHOGHEHUFRQVWLWXFLRQDOGHO(VWDGRGHYHODUSRU
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LQVWLWXFLyQVHOHRWRUJyDXWRQRPtDWDQWRWpFQLFDFRPRSDWULPRQLDO\DGPLQLVWUDWLYD\VHOH
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HQFRRUGLQDFLyQFRQODSROtWLFDHFRQyPLFDJHQHUDO
(VSHFLDOL]DUXQyUJDQRGHO(VWDGRHQODHVWDELOLGDGPRQHWDULDVLJQL¿FDTXHVLELHQOD
REOLJDFLyQFRQVWLWXFLRQDOHVGHO(VWDGRHQVXFRQMXQWRDODLQVWLWXFLyQUHVSRQVDELOL]DGD
OH FRPSHWH OD E~VTXHGD GH GLFKR ¿Q OLEUH GH ODV SUHVLRQHV DPELJHGDGHV \ SROtWLFDV
FDPELDQWHVTXHSXHGHQDIHFWDURWUDVLQVWLWXFLRQHVGHO(VWDGR
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XQDDIRUWXQDGDVtQWHVLVGHLGHDVSRUXQDSDUWHGHODQXHYDYDORUDFLyQRWRUJDGDDODHVWD
ELOLGDGPRQHWDULDHQODVGRV~OWLPDVGpFDGDVGHOVLJOR;;\GHODRWUDGHSODQWHDPLHQWRV
GHIHQGLGRVGHWLHPSRDWUiV\HQRFDVLRQHV\FRQWH[WRVGLIHUHQWHVHQUHODFLyQFRQHOUpJL
PHQPRQHWDULR(QWUHHVWRV~OWLPRVVHFXHQWDQORVVLJXLHQWHVODFRQIRUPDFLyQGHOD-XQWD
'LUHFWLYDFRQHOHPHQWRVLQGHSHQGLHQWHVGHO*RELHUQR\GHORVJUHPLRVQRPEUDGRVSRU
HOSUHVLGHQWHGHOD5HS~EOLFDSDUDSHUtRGRV¿MRVODGHVLJQDFLyQGHOJHUHQWHSRUOD-XQWD
'LUHFWLYDWDPELpQSDUDSHUtRGRV¿MRV\ODH[LJHQFLDGHOYRWRXQiQLPHGHOD-XQWDSDUDOD
DSUREDFLyQGH¿QDQFLDPLHQWRVGLUHFWRVDO*RELHUQR

5ൾൿൾඋൾඇർංൺඌ

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62
El panorama: la economía y las instituciones monetarias

 )XHQWHVGRFXPHQWDOHV

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%RJRWi

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a. La banca comercial

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166
Auge y depresión: 1923-1933

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La economía colombiana en la Revista del Banco de la República, 1927-2015

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La economía colombiana en la Revista del Banco de la República, 1927-2015

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b. El redescuento a los bancos

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0LQHUR(QQRYLHPEUHGHGLFKRDxRORVUHGHVFXHQWRVDUULEDURQDPLOORQHV³ODFLIUD


La economía colombiana en la Revista del Banco de la República, 1927-2015

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c. El descuento de bonos de prenda

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La posguerra hasta la creación de la Junta Monetaria (1946-1962)

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La economía colombiana en la Revista del Banco de la República, 1927-2015

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La posguerra hasta la creación de la Junta Monetaria (1946-1962)

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