Impacto de la abundancia petrolera y las empresas petroleras nacionales en la represión financiera

DOI:  https://doi.org/10.12804/revistas.urosario.edu.co/economia/a.15770

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Publicado: abr 15, 2026
Número: Vol. 28 Núm. 1 (2025):
Sección Artículos


Palabras clave: represión financiera empresas petroleras nacionales crédito

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Autores/as

  Roberto Pérez Becerra
Universidad del Rosario

Resumen

Este trabajo examina si la propiedad estatal de la principal empresa en el sector petrolero condiciona la relación entre recursos naturales y finanzas. Utilizando un panel de 90 países entre 1973 y 2017, y estimando modelos dinámicos con el estimador Arellano y Bond (1995) (system-GMM) analizamos cómo la abundancia petrolera interactúa con la presencia de la empresa petrolera nacional (EPN) para perfilar el desarrollo financiero. Proponemos una nueva explicación para la adopción de controles sobre las tasas de interés (IRC), mostrando que la dependencia fiscal de los ingresos petroleros, cuando se combina con las EPN, está asociada de manera sistemática con la represión financiera. Un análisis de mediación revela un canal indirecto en el que los IRC estimulan el crecimiento del crédito a corto plazo, pero debilitan la profundidad financiera a lo largo del tiempo. Estos hallazgos se basan en los enfoques clásicos de McKinnon y Shaw, así como en trabajos más recientes de Reinhart, ofreciendo un mecanismo novedoso que endogeneiza las decisiones gubernamentales de reprimir las finanzas.

Cómo citar
Pérez Becerra, R. (2026). Impacto de la abundancia petrolera y las empresas petroleras nacionales en la represión financiera. Revista De Economía Del Rosario, 28(1). https://doi.org/10.12804/revistas.urosario.edu.co/economia/a.15770
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