Obligación de información y asimetrías de información en el mercado bancario (The Obligation of Information and Information Asymmetries in the Colombian Banking Market)

Revista de Economía Institucional, Vol. 21, N.° 41, 2019

26 Pages Posted: 18 Jun 2019

See all articles by Juliana Devis Cantillo

Juliana Devis Cantillo

Independent

Pilar Gómez

One Earth Future Foundation

Erika Lopez Ponton

affiliation not provided to SSRN

Date Written: June 6, 2019

Abstract

Spanish Abstract: Las asimetrías de información requieren la intervención del Estado para regular los contratos. En Colombia se creó la ley de Habeas Data para manejar los conflictos derivados de la asimetría de información entre usuarios y entidades fi-nancieras. No obstante, la capacidad de este instrumento jurídico para resolver esta imperfección es limitada, como muestran los resultados de este artículo, basados en una revisión exhaustiva de sentencias de la Corte Constitucional.

English Abstract: The information asymmetry increases the transaction costs. This fact calls the State’s regulation on the contracts developed by the market’s agents in order to get efficient results. In Colombia, the Habeas Data law was created to manage conflicts arising from the asymmetry of information between users and financial entities. However, its ability to solve this market’s imperfection in the banking sector is still limited. In this article, we present results that validate the previous statement based on the analysis of this legal instrument, retaking concepts of the “Law and Economics” and a comprehensive review of Constitutional Court decisions.

Note: Downloadable document is in Spanish.

Keywords: information asymmetry, law and economics, obligation of information, banking sector

JEL Classification: G21, G28

Suggested Citation

Devis Cantillo, Juliana and Gómez Quiñones, Maria del Pilar and Lopez Ponton, Erika, Obligación de información y asimetrías de información en el mercado bancario (The Obligation of Information and Information Asymmetries in the Colombian Banking Market) (June 6, 2019). Revista de Economía Institucional, Vol. 21, N.° 41, 2019, Available at SSRN: https://ssrn.com/abstract=3400359

Juliana Devis Cantillo

Independent ( email )

Maria del Pilar Gómez Quiñones

One Earth Future Foundation ( email )

525 Zang Street, Suite D
Broomfield, CO
United States

Erika Lopez Ponton (Contact Author)

affiliation not provided to SSRN

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