A Smithian analysis of the colombian economic growth
Revista Ensayos Sobre Política Económica; Vol. 34. No. 79. Abril, 2016. Pág.: 66-77.
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2016-04-01Date of last update
2016-04Identifier
0120-4483Document language
engMetadata
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Summary
Análisis estadísticos revelan que, después de controlar por la acumulación de los factores productivos, el efecto conjunto de la diversificación de los insumos manufactureros y la capacidad de compra de la población urbana tiene un impacto positivo y significativo en el crecimiento económico colombiano. Además, se ofrece evidencia estadística de que los recortes o deficiencias de la infraestructura pública y de los servicios públicos, así como las violaciones de los derechos de propiedad disminuyen el crecimiento económico. Estos resultados son consistentes con la visión smithiana del desarrollo económico.
Abstract
Statistical analyses show that, after controlling for the accumulation of productive factors, the joint effect of the diversification of manufacturing inputs and the urban population purchasing power has a positive and significant impact on the Colombian economic growth. Furthermore, there is statistical evidence that shortages or deficiencies of public infrastructure and public services, as well as the violations of property rights diminish economic growth. These results are consistent with the Smithian vision of economic development.
JEL Codes
D24 - Production; Cost; Capital, Total Factor, and Multifactor Productivity; CapacityD31 - Personal Income, Wealth, and Their DistributionsD62 - ExternalitiesE25 - Aggregate Factor Income DistributionH54 - Infrastructures; Other Public Investment and Capital StockI32 - Measurement and Analysis of PovertyO11 - Macroeconomic Analyses of Economic DevelopmentO14 - Industrialization; Manufacturing and Service Industries; Choice of TechnologyO47 - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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URI
https://repositorio.banrep.gov.co/handle/20.500.12134/6537https://hdl.handle.net/20.500.12134/6537
https://doi.org/10.1016/j.espe.2016.01.002
https://ideas.repec.org/a/bdr/ensayo/v34y2016i79p66-77.html
https://ideas.repec.org/a/col/000107/014433.html
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