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The War on Drugs is Counterproductive, Once Again

  • Carlos Humberto Ortiz

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    A two-sector general equilibrium model that included drugs as basic goods was relatively successful at explaining the waste of resources that the war on drugs incurs (Ortiz, 2003). Due to the assumption of constant productivity, the model predicted the rise of the drug price with supply repression. Yet Plan Colombia, an unparalleled effort to eradicate drug production in Colombia, had no significant effect on drug prices. In order to correct the model two sources of productivity improvement in the drugs sector are examined. The modified model helps to understand why drug prices have remained stable, why global supply and demand have not diminished, and why coca plantations were spread throughout the nation under Plan Colombia.

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    Article provided by Universidad de Antioquia, Departamento de Economía in its journal LECTURAS DE ECONOMÍA.

    Volume (Year): (2009)
    Issue (Month): 71 ()
    Pages: 19-42

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    Handle: RePEc:lde:journl:y:2009:i:71:p:19-42
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    1. Mauricio CARDENAS SANTAMARIA, 2002. "Economic growth in Colombia: A reversal of Fortune," ARCHIVOS DE ECONOMÍA 002402, DEPARTAMENTO NACIONAL DE PLANEACIÓN.
    2. Mauricio Cárdenas, 2007. "Economic Growth In Colombia: A Reversal Of ‘Fortune’?," Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 25(53), pages 220-259, Enero.
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