Abstract

CORONEL-LOPEZ, Jorge; DANNA-BUITRAGO, Jenny Paola  and  MERCADO-SUAREZ, Alvaro. Trade liberalization in Colombia: modernization or pitfall?. Rev.econ.inst. [online]. 2019, vol.21, n.41, pp.71-97.  Epub Aug 06, 2019. ISSN 0124-5996.  https://doi.org/10.18601/01245996.v21n41.04.

This paper discusses the gap between the expected and real effects of Colombian trade liberalization policy. First, we stress the influence of international integration on Colombia's growth and development, and explains why moving toward more free trade has not contributed to the consolidation of high value-added industries in that country. Ultimately, we apply the theory of political cycles and suggest that political power in Colombia has contributed to get the country trapped into an international dependency on primary commodities.

Keywords : trade liberalization; Colombia; political business cycles; international trade; JEL: F13, F14.

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