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Exenciones tributarias y desarrollo regional: evidencia de Colombia


  • Luis Armando Galvis-Aponte

    (Banco de la República de Colombia)

  • Leonardo Bonilla-Mejía

    (Banco de la República de Colombia)

  • Sara María Gómez-Mesa


Este trabajo evalua el impacto de los incentivos tributarios a empresas en el desarrollo regional mediante el estudio de la Ley Páez en Colombia. Esta Ley fue promulgada para atraer empresas a la region afectada por el terremoto y la avalancha del Río Páez en el año 1994. Este es un experimento natural particularmente interesante dado que la ley surgio de un fenómeno imprevisto y se incluyeron numerosos municipios que no fueron directamente afectados por el desastre. Esto nos permite diferenciar el efecto de los beneficios tributarios de otros factores relacionados con la tragedia, como los daños materiales y las ayudas a los damnificados. Los efectos causales se identifican comparando los municipios beneficiarios de la Ley, afectados y no afectados, con un grupo de controles sinteticos construidos a partir de la metodología de balance de trayectorias. Los resultados indican que las políticas de exenciones no tuvieron mayores efectos, ni en las finanzas publicas locales ni en la calidad de vida. En un ejercicio complementario se evalúa el efecto de la Ley Quimbaya de 1999, que beneficio a los municipios afectados por el terremoto del Eje Cafetero, encontrando resultados similares. **** ABSTRACT: This document aims to evaluate the impact of tax incentives granted to companies on regional development by studying the Páez Law in Colombia. This law was promulgated to attract firms to the region affected by the earthquake and the avalanche of the Páez River in 1994. This is a particularly interesting natural experiment since the law arose from an unexpected shock and numerous municipalities that were not directly affected by the disaster were covered by its benefits. This allows us to differentiate the effect of tax exemptions from other factors related to the tragedy, such as property damage and aid to the victims. The causal effects are identified by comparing the municipalities that are beneficiaries of the law, affected and not affected, with a group of synthetic controls built on the trajectory balancing methodology. The results indicate that exemption policies had no major effects, either on local public finances or on the quality of life. In a complementary exercise, the effect of the Quimbaya Act of 1999 is evaluated, finding similar results. This Law benefited the municipalities affected by the Coffee Belt earthquake.

Suggested Citation

  • Luis Armando Galvis-Aponte & Leonardo Bonilla-Mejía & Sara María Gómez-Mesa, 2019. "Exenciones tributarias y desarrollo regional: evidencia de Colombia," Documentos de trabajo sobre Economía Regional y Urbana 284, Banco de la Republica de Colombia.
  • Handle: RePEc:bdr:region:284

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    More about this item


    exenciones tributarias; ley Páez; desarrollo regional; geografía económica; controles sintéticos; balanceo de trayectorias; tax exemptions ; Páez Law; regional development; economic geography; synthetic control methods; trajectory balancing;
    All these keywords.

    JEL classification:

    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods
    • R58 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Regional Development Planning and Policy


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