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Colombia y Venezuela: desempeño económico, tipo de cambio y relaciones Estado-empresarios

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  • Alberto Martínez C.

    ()
    (Universidad Simón Bolívar)

Abstract

In 1980, Venezuelan income per capita in dollars was 1.4 times higher than that of Colombia, but in 2007, this ratio was reversed and the Colombian income was 1.1 higher than that of Venezuela. This result deserves an explanation, as both countries made similar structural reforms to allow a free economy and to integrate with international markets. This paper aims to explain this result. The main conclusion is that the State-entrepreneur relationship and the real exchange rate management are crucial for the explanation of the difference in the economic performance of both countries.

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File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/amartinez19.pdf
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Bibliographic Info

Article provided by Universidad Externado de Colombia - Facultad de Economía in its journal Revista de Economía Institucional.

Volume (Year): 10 (2008)
Issue (Month): 19 (July-December)
Pages: 265-291

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Handle: RePEc:rei:ecoins:v:10:y:2008:i:19:p:265-291

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Keywords: Colombia; Venezuela; economic development; State-government relations; institutions;

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  1. Jeffrey D. Sachs & Andrew M. Warner, 1995. "Economic Convergence and Economic Policies," Harvard Institute of Economic Research Working Papers 1715, Harvard - Institute of Economic Research.
  2. Paolo Mauro, 2002. "The Persistence of Corruption and Slow Economic Growth," IMF Working Papers 02/213, International Monetary Fund.
  3. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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