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Economic growth in Colombia: A reversal of Fortune

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  • Mauricio CARDENAS SANTAMARIA

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Abstract

Colombia’s annual GDP growth fell to an average of 3% between 1980 and 2000 from 5% between 1950 and 1980. The sources-of-growth decomposition shows that this reversal can be accounted entirely by changes in productivity. Indeed, between 1960 and 1980 productivity gains increased output per capita by nearly 1% per year. Since 1980, productivity losses have reduced output per capita at about the same rate. The time series analysis suggests that the implosion of productivity is related to the increase in criminality which has diverted capital and labor to unproductive activities. In turn, the rise in crime has been the result of rapid expansion in drug-trafficking activities, which erupted around 1980. This explanation is supported by cross-country evidence that shows that Colombia is clear outlier in terms of conflict and fragmentation, and suggests that high crime is associated with low productivity.

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Bibliographic Info

Paper provided by DEPARTAMENTO NACIONAL DE PLANEACIÓN in its series ARCHIVOS DE ECONOMÍA with number 002402.

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Length: 40
Date of creation: 18 Mar 2002
Date of revision:
Handle: RePEc:col:000118:002402

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Keywords: Economic growth;

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Cited by:
  1. Gonzalez, Maria A. & Lopez, Rigoberto A., 2005. "Political Violence and Farm Household Efficiency in Colombia," 2005 Annual meeting, July 24-27, Providence, RI 19528, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  2. World Bank, 2005. "Colombia : Public Expenditure Review," World Bank Other Operational Studies 8559, The World Bank.
  3. Polanía Reyes Sandra Viviana, 2005. "Capital social e ingreso de los hogares del sector urbano en Colombia," REVISTA DESARROLLO Y SOCIEDAD, UNIVERSIDAD DE LOS ANDES-CEDE.
  4. Alexander Cotte Poveda, 2006. "Crecimiento, Desigualdad Y Pobreza: Un Análisis De La Violencia En Colombia," SERIE DE DOCUMENTOS EN ECONOMÍA Y VIOLENCIA 002233, CENTRO DE INVESTIGACIONES EN VIOLENCIA, INSTITUCIONES Y DESARROLLO ECONÓMICO (VIDE).
  5. Juan Alberto Fuentes, 2005. "Violent Conflict and Human Development in Latin America: The Cases of Colombia, El Salvador and Guatemala," Human Development Occasional Papers (1992-2007) HDOCPA-2005-10, Human Development Report Office (HDRO), United Nations Development Programme (UNDP).
  6. Boris Branisa & Adriana Cardozo, 2009. "Revisiting the Regional Growth Convergence Debate in Colombia Using Income Indicators," Ibero America Institute for Econ. Research (IAI) Discussion Papers 194, Ibero-America Institute for Economic Research, revised 21 Aug 2009.
  7. Angrist, Joshua & Kugler, Adriana, 2007. "Rural Windfall or a New Resource Curse? Coca, Income, and Civil Conflict in Colombia," IZA Discussion Papers 2790, Institute for the Study of Labor (IZA).
  8. Rony Pshisva & Gustavo A. Suarez, 2006. "'Captive markets': the impact of kidnappings on corporate investment in Colombia," Finance and Economics Discussion Series 2006-18, Board of Governors of the Federal Reserve System (U.S.).
  9. Carlos Humberto Ortiz Quevedo, 2003. "Learning-By-Doing, Government Spending And Economic Growth: A Model A La Matsu Yama-Barro," DOCUMENTOS DE TRABAJO-CIDSE 003136, UNIVERSIDAD DEL VALLE - CIDSE.
  10. Salomón Kalmanovitz & Enrique López, 2003. "Patrones de Desarrollo y Fuentes de Crecimiento de la Agricultura," BORRADORES DE ECONOMIA 003315, BANCO DE LA REPÚBLICA.

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