2008-04-032008-04-032008-04-032008-04-03https://repositorio.banrep.gov.co/handle/20.500.12134/5519This paper analyzes the evolution and impact of capital flows in Colombia over the past five years. An examination of the nature and composition of the capital flows indicates that to large extent they have originated in foreign direct investment, especiaPDFspaOpen AccessCapital flows and financial assets in Colombia: recent behavior, consequences and challenges for the central bankWorking PaperE50 - Monetary Policy, Central Banking, and the Supply of Money and Credit: GeneralF32 - Current Account Adjustment; Short-Term Capital MovementsF41 - Open Economy MacroeconomicsCapital flowsSterilizationExchange rateForeign investment in ColombiaFinancial systemMovimiento de capitales -- ColombiaCambio exterior -- ColombiaActivos financieros -- ColombiaInversiones extranjeras -- ColombiaAcceso abiertoAtribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0F41 - Macroeconomía de la economía abiertaF32 - Ajustes de la balanza por cuenta corriente; Movimientos de capital a corto plazoE50 - Política monetaria, bancos centrales, oferta de dinero y crédito: GeneralidadesLas 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.https://hdl.handle.net/20.500.12134/5519