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La Crítica de Lucas y la inversión en Colombia: Nueva Evidencia

  • Mauricio Cárdenas


  • Mauricio Olivera


Este trabajo reexamina los determinantes de la inversión en Colombia a la luz de su auge reciente y de las reformas estructurales por las que atravesó la economía del país a comienzos de la década. Los resultados indican que las variables de costo de uso de capital, tradicionalmente relegadas en la literatura, son estadísticamente significativas y cuantitativamente importantes en la explicación del comportamiento de la inversión en Colombia durante el periodo 1950-1994. Más aún, la evidencia disponible sugiere que la sensibilidad de la inversión frente a las variables que conforman el costo de uso del capital aumentó en los últimos años. Esto es razonable, toda vez que las reformas estructurales eliminaron una serie de distorsiones que limitaban la importancia de las señales de precios en la asignación de recursos.

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Volume (Year): 14 (1995)
Issue (Month): 27 (June)
Pages: 95-138

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Handle: RePEc:col:000107:007521
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