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Colombia y Venezuela: desempeño económico, tipo de cambio y relaciones Estado-empresarios

Author

Listed:
  • Alberto Martínez C.

    (Universidad Simón Bolívar)

Abstract

In 1980, Venezuelan income per capita in dollars was 1.4 times higher than that of Colombia, but in 2007, this ratio was reversed and the Colombian income was 1.1 higher than that of Venezuela. This result deserves an explanation, as both countries made similar structural reforms to allow a free economy and to integrate with international markets. This paper aims to explain this result. The main conclusion is that the State-entrepreneur relationship and the real exchange rate management are crucial for the explanation of the difference in the economic performance of both countries.

Suggested Citation

  • Alberto Martínez C., 2008. "Colombia y Venezuela: desempeño económico, tipo de cambio y relaciones Estado-empresarios," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 10(19), pages 265-291, July-Dece.
    • Handle: RePEc:rei:ecoins:v:10:y:2008:i:19:p:265-291
    as

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    File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/amartinez19.pdf
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    References listed on IDEAS

    as
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    4. Rhenals M., Remberto & Torres G., Alejandro, 2003. "El desempeno macroeconómico colombiano en el cuatrienio Pastrana: recesión y recuperación frágil," Perfil de Coyuntura Económica, Universidad de Antioquia, CIE, October.
    5. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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    More about this item

    Keywords

    Colombia; Venezuela; economic development; State-government relations; institutions;
    All these keywords.

    JEL classification:

    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • F10 - International Economics - - Trade - - - General
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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