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Revista Finanzas y Política Económica
versión impresa ISSN 2248-6046
Resumen
ROJAS-TRIANA, María Isabel; PARRA-MARINO, Jeisson Gabriel y GUTIERREZ-AYALA, Jhancarlos. Animal spirits theory and empirics and impact on investment: Case of Colombia. Finanz. polit. econ. [online]. 2020, vol.12, n.2, pp.523-552. Epub 19-Jun-2021. ISSN 2248-6046. https://doi.org/10.14718/revfinanzpolitecon.v12.n2.2020.3130.
This paper presents an approach to rationality from Keynes' perspective, broadened in the concept of animal spirits and their interaction with investors' expectations. It is exemplified by a VEC econometric model, which shows that investment expectations, in particular for Colombia, become positive in the face of past-year investment and income shocks; and negative, in the face of confidence index and interest rate shocks. It suggests changes for behavioral economics in favor of financial well-being projected in public policies.
Palabras clave : Confidence; animal spirits; expectations; investment..