ABSTRACT
The reforms that took place in Colombia, in that period, had a structural character that generated profound change in the Colombian economy. This chapter describes a different position, aiming to demystify the Colombian export-led growth model, and exploring a different hypothesis put forward by the financialisation literature, under which it is argued that the economic arrangements need to be changed. In turn, in relation to financial assets, the inverse, unadjusted and non-significant relationship between the economy and the regression coefficients of asset valuation indexes such as housing and shares shows the deepening of the financialisation of the Colombian economy. In Colombia specifically, a first financial reform was carried out in 1974, which lifted the restrictions on the interest rate and discouraged forced loans. In the Colombian case, reform packages focused on the liberalisation of the capital account, and commercial opening became a reality in the first years of the 1990s.
