El artículo discute como el Banco de la República de Colombia se ajustó durante un periodo largo a los cambios en la teoría y la legislación de la política monetaria, cambiaria y de crédito en el país. En el periodo la legislación transformó sus funciones, responsabilidades, y esquema de gobierno varias veces, pero la entidad logró mantener una cultura y seriedad administrativa muy sólida.
The article discusses how the Banco de la Republica, the central bank of Colombia, adapted its structure and objectives during 90 years of changes in the theory and legislation dealing with monetary, credit and foreign exchange policies. In that period legislation transformed its functions, responsibilities, and governance structure, but the institution was able to maintain a culture based on administrative seriousness and avoided politization. When its mandate included many objectives other tan monetary policy, inflation in Colombia was substantially higher than in the industrialized economies.
