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Colombia’s macroeconomic challenges at the end of the supercycle of commodity prices

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  • José Antonio Ocampo
  • Jonathan Malagón
  • Carlos Alberto Ruiz

Abstract

The end of the commodity boom presents major challenges for the Colombian economy. The major ones relate to the need to reduce the current account deficit and find new growth engines. A competitive real exchange rate is essential for objectives and requires stronger interventions in the foreign exchange market; these interventions also help to smooth out the trajectory of the inflation rate. Finally, although fiscal adjustment has been adequate, there are fiscal needs associated with the additional public sector spending demanded by the peace agreement and the need to correct the major structural tax imbalances generated by previous tax reforms.

Suggested Citation

  • José Antonio Ocampo & Jonathan Malagón & Carlos Alberto Ruiz, 2017. "Colombia’s macroeconomic challenges at the end of the supercycle of commodity prices," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 40(1), pages 95-111, January.
    • Handle: RePEc:mes:postke:v:40:y:2017:i:1:p:95-111
    DOI: 10.1080/01603477.2016.1273074
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    Cited by:

    1. Pablo Gabriel Bortz & Nicole Toftum & Nicolás Hernán Zeolla, 2021. "Old Cycles and New Vulnerabilities: Financial Deregulation and the Argentine Crisis," Development and Change, International Institute of Social Studies, vol. 52(3), pages 598-626, May.

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