<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0120-4645</journal-id>
<journal-title><![CDATA[Cuadernos de Administración (Universidad del Valle)]]></journal-title>
<abbrev-journal-title><![CDATA[cuad.adm.]]></abbrev-journal-title>
<issn>0120-4645</issn>
<publisher>
<publisher-name><![CDATA[Universidad del Valle]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0120-46452020000200093</article-id>
<article-id pub-id-type="doi">10.25100/cdea.v36i67.8641</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[Mining and Energy Commodity Price Effects on Colombian Economy]]></article-title>
<article-title xml:lang="es"><![CDATA[Efectos de los precios de los commodities minero-energéticos sobre la economía colombiana]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Oviedo-Gómez]]></surname>
<given-names><![CDATA[Andrés]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Candelo-Viafara]]></surname>
<given-names><![CDATA[Juan Manuel]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad del Valle Engineering Doctorate ]]></institution>
<addr-line><![CDATA[Cali ]]></addr-line>
<country>Colombia</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad del Valle School of Management Sciences ]]></institution>
<addr-line><![CDATA[Buga ]]></addr-line>
<country>Colombia</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>08</month>
<year>2020</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>08</month>
<year>2020</year>
</pub-date>
<volume>36</volume>
<numero>67</numero>
<fpage>93</fpage>
<lpage>108</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S0120-46452020000200093&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S0120-46452020000200093&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S0120-46452020000200093&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract The Colombian economy has a strong dependence on the export of commodities. Different studies show that the prices of these products are exogenous, which have originated direct effects on the national economic activity. Therefore, this paper studies the shock effects produced by mining and energy commodity price variations like oil, coal and nickel on Colombian economy. We used 129 variables for 2001-2016 period and estimated a FAVAR model (Factor Augmented VAR) to observe commodity price effects on different economic aggregates, the results show that price fluctuations have significant effects on variables such as economic activity, investment, the trade balance, the real exchange rate and external debt.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen La economía colombiana se caracteriza por tener una fuerte dependencia en la exportación de materias primas. Diferentes estudios muestran que los precios de estos productos están dados de manera exógena, lo que origina efectos directos sobre la actividad económica de los países. Por lo tanto, este trabajo evalúa la incidencia de los choques producidos por las variaciones de los precios de los bienes minero-energéticos con mayor peso en las exportaciones colombianas, es decir, el petróleo, el carbón y el níquel. Para observar los efectos que tienen sobre los diferentes agregados económicos, se empleó una base de datos compuesta por 129 variables para el periodo 2001-2016 y se estimó un modelo FAVAR (Factor Augmented VAR, por sus siglas en inglés). Los resultados hallados permiten inferir que las fluctuaciones de los precios tienen incidencias significativas sobre variables como la actividad económica, la inversión, la balanza comercial, el tipo de cambio real y la deuda externa.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[Commodity prices]]></kwd>
<kwd lng="en"><![CDATA[Economic activity]]></kwd>
<kwd lng="en"><![CDATA[International trade]]></kwd>
<kwd lng="en"><![CDATA[Time series analysis]]></kwd>
<kwd lng="en"><![CDATA[FAVAR model]]></kwd>
<kwd lng="es"><![CDATA[Precios de materias primas]]></kwd>
<kwd lng="es"><![CDATA[Actividad económica]]></kwd>
<kwd lng="es"><![CDATA[Comercio internacional]]></kwd>
<kwd lng="es"><![CDATA[Análisis de series cronológicas]]></kwd>
<kwd lng="es"><![CDATA[Modelos FAVAR]]></kwd>
<kwd lng="es"><![CDATA[Colombia]]></kwd>
</kwd-group>
</article-meta>
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