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Análisis del entorno nacional e internacional de la economía colombiana en 2007-2008: coyuntura y perspectivas

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  • Alexander Tobón Arias

    ()

  • Ramón Javier Mesa Callejas

    ()

  • Diana Constanza Restrepo Ochoa

Abstract

The Colombian Economy grew 7,5% in 2007, the highest growth rate since the 1970's. The traditional productive sectors and the great expansion of domestic aggregate demand have been the main sources of growth. However, the major inflationary pressures along the year led to the unfulfillment of the inflation target established by the Banco de la República, with a rate of 5,7%, 1,2 percentage points greater than the maximum limit of the defined interval (3,5% – 4,5%). In this way, the need to reduce the inflation rate by the means of the rise in interest rates compromised the role of monetary and exchange rate policy and increased the instability of the exchange rate. In addition to this, the complex international context that typified the country's economy since mid 2007, as well as the risks derived from the political climate among Colombia, Venezuela and Ecuador, will be the factors that characterize the economic perspectives for 2008.

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Bibliographic Info

Paper provided by Universidad de Antioquia, Departamento de Economía in its series Documentos de Coyuntura with number 002.

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Length: 45 pages
Date of creation: Apr 2008
Date of revision:
Handle: RePEc:lde:coyunt:002

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Keywords: economic growth; monetary policy; fiscal policy; exchange rate revaluation; employment; external sector;

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