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The relationship between development, investments, insecurity and social conditions in Colombia: a dynamic approach

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  • Alexander Cotte Poveda

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Abstract

In this paper, we investigate the relationship between economic development, investments, savings, insecurity and social conditions in Colombian departments. Using a dynamic heterogeneous panel analysis, we study the effects of insecurity and social conditions on economic development through an estimation of panel data cointegration techniques. The models applied in this study suggest a long-term relationship among economic development, investments, savings, social conditions and insecurity. Investments, savings and human development index have a positive and significant coefficient, which indicates that these variables produce incentives for economic development, whereas GINI and homicides have a negative relationship, demonstrating that these variables undermine economic development. All findings are important in the design of strategies and policies that strengthen income distribution equality, a key factor that determines growth and development through adequate government expenditures that encourage savings and investment decisions with the aim to improve welfare and the standard of living.

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File URL: http://link.springer.com/article/10.1007%2Fs11135-012-9687-2
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Bibliographic Info

Paper provided by CENTRO DE INVESTIGACIONES EN VIOLENCIA, INSTITUCIONES Y DESARROLLO ECONÓMICO (VIDE) in its series SERIE DE DOCUMENTOS EN ECONOMÍA Y VIOLENCIA with number 010463.

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Length: 15
Date of creation: 07 Feb 2013
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Handle: RePEc:col:000137:010463

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Keywords: Social conditions · Economic development · Dynamic of the long run · Saving · Investments;

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