Abstract

BLANCO BARON, Constanza. Securitization in Colombia: Twenty years of regulation, 1993-2013. Rev.econ.inst. [online]. 2015, vol.17, n.32, pp.259-294. ISSN 0124-5996.  https://doi.org/10.18601/01245996.v17n32.09.

The analysis of innovative processes such as securitization leads to asking if the behavior of economic agents is a response to the institutional changes with specific objectives, or if the changes in the regulatory regime are the result of market behaviour or needs of the economy. The objective of this paper is to apply the theory of institutional change of North (agent, source, process and way of change) to examine the Colombian market in the period 1993-2013 in order to explore the main events which had an influence on the performance of securitization in general, and mortgage securitization in particular.

Keywords : institutional change; securitization; mortgage securitization.

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