Abstract

ESPITIA, Jorge et al. Public spending in Colombia. Reflections and proposals. Rev.econ.inst. [online]. 2019, vol.21, n.40, pp.291-326. ISSN 0124-5996.  https://doi.org/10.18601/01245996.v21n40.11.

Analyses of public spending in Colombia tend to concentrate on short-term issues and tend to conclude that it must be reduced to guarantee macroeconomic equilibrium. This article is based on the fact that the 1991 Constitution adopted a Rule of Law that promised to modernize Colombian society and guarantee the fulfillment of economic and social rights for to the entire population. From this point of view, it examines the problems of inequality, the infrastructure requirements to improve long-term economic growth, and to comply with the Peace Agreements and the international commitments to which they gave rise. Contrary to conventional short-term analyses, to achieve the aforementioned purposes, greater public spending is required, which is allocated and executed in an efficient and equitable manner that avoids corrupt practices.

JEL: F43, H23, H24, H25, H50, H72, H75.

Keywords : public spending; economic growth; social spending; pensions; subsidies; universal basic income.

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