Abstract

MESA C., Ramón Javier; RESTREPO O., Diana Constanza  and  AGUIRRE B., Yenny Catalina. External crisis and the slowdown of Colombian economy in 2008-2009: current situation and perspectives. Perf. de Coyunt. Econ. [online]. 2008, n.12, pp.31-67. ISSN 1657-4214.

Colombia's economic performance in 2008 was not satisfactory: the economy grew at a rate of 2,5%, in contrast to 2007's 7,5%; the inflation rate increased to 7,7%, and there was an important deterioration of some labor market indicators. The turn taken by the Colombian economy is related to both internal and external factors. Some of the internal determinants of this twist are the weakening of the expansive cycle of construction, costs inflation and the diminishing of households and firms' expenses. The external ones are mostly related to the international financial crisis and its repercussions on the world demand, which seems to be affecting the national economy, judging by the GDP growth in the last quarter of 2008: -0,7%.

Keywords : external crisis; deceleration; recession; inflation; economic policy.

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