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dc.creatorLeón-Rincón, Carlos Eduardo
dc.description.abstractIn complex systems, homogeneity (i.e. lack of diversity) has been documented as a source of fragility. Likewise, financial sector’s homogeneity has been documented as a contributing factor for systemic risk. We assess homogeneity in the Colombian case by measuring how similar banks are regarding the structure of their overall financial statements, and their lending, investment, and funding portfolios. Distances among banks and an agglomerative clustering method yield the hierarchical structure of the banking system, which exhibits how banks are related to each other based on their financial structure. The Colombian banking sector displays homogeneous features, especially among the largest banks. Results enable to study to what extent the banking sector is homogeneous, and to identify banking firms that have a (n) (un) common financial structure. Yet, as we neither examine Colombian banking system complexity nor banks’ soundness nor higher dimensions of diversity, conclusive inferences about systemic risk and financial stability are pending.
dc.format.extent31 páginas : gráficas, tablas
dc.publisherBanco de la República de Colombia
dc.relation.ispartofDocumentos de trabajo
dc.relation.ispartofseriesBorradores de Economía
dc.relation.isversionofBorradores de Economía; No. 1022
dc.rights.accessRightsOpen Access
dc.subjectRiesgo sistémico
dc.subjectAprendizaje automático
dc.titleBanks in Colombia : How homogeneous are they?
dc.typeWorking Paper
dc.subject.jelC38 - Classification Methods; Cluster Analysis; Principal Components; Factor Analysis
dc.subject.jelG21 - Banks; Depository Institutions; Micro Finance Institutions; Mortgages
dc.subject.jelL22 - Firm Organization and Market Structure
dc.subject.jelL25 - Firm Performance: Size, Diversification, and Scope
dc.subject.keywordSystemic risk
dc.subject.keywordMachine learning
dc.subject.lembSistema financiero -- Colombia
dc.subject.lembRiesgo financiero -- Colombia
dc.subject.lembEstabilidad financiera -- Colombia
dc.subject.lembBancos -- Colombia
dc.type.spaDocumentos de trabajo
dc.rights.spaAcceso abierto
dc.rights.ccAtribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0
dc.subject.jelspaL25 - Rendimiento de la empresa: tamaño, diversificación y alcance de la empresa
dc.subject.jelspaG21 - Bancos; Instituciones de depósito; Instituciones Microfinancieras; Hipotecas
dc.subject.jelspaC38 - Métodos de clasificación; Análisis cluster; Análisis de componentes principales; Análisis factorial
dc.subject.jelspaL22 - Organización de la empresa y estructura de mercado
dc.type.hasversionPublished Version
dc.source.bibliographicCitationAnderson, P. (1999). Complexity theory and organization science. Organization Science, 10(3), 216-232.
dc.source.bibliographicCitationArthur, W.B. (1999). Complexity and the economy. Science, 284, 107-109.
dc.source.bibliographicCitationHalkidi, M., Batistakis, Y., & Vazirgiannis, M. (2001). On clustering validation techniques. Journal of Intelligent Information Systems, 17, 107-145.
dc.rights.disclaimerLas opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
dc.creator.firmaCarlos León

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