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Natural resources royalties and local development in Colombia

Author

Listed:
  • Barreto Nieto, Carlos Alberto
  • Linares, Jose
  • Armenta, Rosa María

Abstract

The purpose of this research is to evaluate the hypothesis of differentiated growth in the municipalities of Colombia which receives rents from exploitation of non-renewable natural resources in comparison with the rest of the country. A specific strategy is to estimate the empirical evidence for the producers regions of coal and oil and also use techniques related to impact evaluation, specifically the difference – in difference estimator (diff-in-diff) which compares the evolution of the economic activity into the regions affected by the royalties’ source of rents with the unaffected ones. An important aspect of this assessment is the legislation based on constitutional guidelines, represented in the law No 141 of 1994, which state the main structure to capture, distribute and invest royalties’ rents. This point of reference is important in terms of evaluate impact, before and after the event.

Suggested Citation

  • Barreto Nieto, Carlos Alberto & Linares, Jose & Armenta, Rosa María, 2011. "Natural resources royalties and local development in Colombia," MPRA Paper 45786, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:45786
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    References listed on IDEAS

    as
    1. Venables, Anthony J. & Maloney, William & Kokko, Ari & Bravo Ortega, Claudio & Lederman, Daniel & Rigobón, Roberto & De Gregorio, José & Czelusta, Jesse & Jayasuriya, Shamila A. & Blomström, Magnus & , 2007. "Natural Resources: Neither Curse nor Destiny," IDB Publications (Books), Inter-American Development Bank, number 350, March.
    2. Guillermo Perry & Mauricio Olivera, 2010. "El impacto del petróleo y la minería en el desarrollo regional y local en Colombia," Working Papers Series. Documentos de Trabajo 9070, Fedesarrollo.
    3. Thomas Gunton, 2003. "Natural Resources and Regional Development: An Assessment of Dependency and Comparative Advantage Paradigms," Economic Geography, Taylor & Francis Journals, vol. 79(1), pages 67-94, January.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Regional development; natural resources; impact evaluation;
    All these keywords.

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General

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