<?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>0121-4772</journal-id>
<journal-title><![CDATA[Cuadernos de Economía]]></journal-title>
<abbrev-journal-title><![CDATA[Cuad. Econ.]]></abbrev-journal-title>
<issn>0121-4772</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional de Colombia]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0121-47722019000100137</article-id>
<article-id pub-id-type="doi">10.15446/cuad.econ.v37n76.61257</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[COMPETENCIA, RENDIMIENTOS CRECIENTES Y EXCESO DE CAPACIDAD: LA INDUSTRIA SIDERÚRGICA MUNDIAL (2000-2014)]]></article-title>
<article-title xml:lang="en"><![CDATA[Competition, increasing returns and excess capacity: the global steel industry (2000-2014)]]></article-title>
<article-title xml:lang="fr"><![CDATA[Concurrence, augmentation des rendements et excès de capacité: l&#8217;industrie sidérurgique mondiale (2000-2014).]]></article-title>
<article-title xml:lang="pt"><![CDATA[Competência, rendimentos crescentes e excesso de capacidade: a indústria siderúrgica mundial (2000-2014).]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Rodríguez Liboreiro]]></surname>
<given-names><![CDATA[Pablo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Instituto Complutense de Estudios Internacionales (ICEI)  ]]></institution>
<addr-line><![CDATA[Madrid ]]></addr-line>
<country>España</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2019</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2019</year>
</pub-date>
<volume>38</volume>
<numero>76</numero>
<fpage>137</fpage>
<lpage>171</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S0121-47722019000100137&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S0121-47722019000100137&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S0121-47722019000100137&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Tras quince años de expansión espoleada por una demanda vigorosa, la industria siderúrgica se enfrenta a un problema de exceso de capacidad que afecta a todos los grandes países productores del mundo. Ello se explica a partir de la fuerte competencia que ha caracterizado el desarrollo reciente del sector y que ha obligado a las empresas concurrentes a formar grandes reservas de capacidad para captar mercado frente a sus rivales y a explotar los rendimientos crecientes a escala para rebajar sus costes de producción. Así, la creciente exigencia en términos de escala mínima ha obligado a las empresas a acometer grandes expansiones de su capacidad para cumplir con los requisitos que marca la competencia a escala mundial. La contradicción entre un patrón de expansión como este, determinado por criterios de eficiencia, respecto de la pauta de la demanda de acero, típicamente cíclica, explica la formación de un gran exceso de capacidad en todo el mundo. JEL: D43, L16, L74.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract After fifteen years of expansion spurred by strong demand, the steel industry is facing an overcapacity problem that affects all major producing countries in the world. This is explained by the strong competition that has characterized the recent development of the sector and has forced competing companies to form large reserves of capacity to capture market against rivals and exploit increasing returns to scale to lower their costs production. Thus, the growing demand in terms of minimum scale has forced companies to undertake major expansions of its capacity to meet the requirements set by global competition. The contradiction between this pattern of expansion, as determined by criteria of efficiency, with respect to the pattern of steel demand, typically cyclical, explains the formation of a large excess capacity worldwide. JEL: D22, D24, L11, L6.]]></p></abstract>
<abstract abstract-type="short" xml:lang="fr"><p><![CDATA[Résumé Après 15 années d&#8217;expansion poussée par une forte demande, l&#8217;industrie sidérurgique est confrontée à un problème d&#8217;excès de capacité qui touche tous les grands pays producteurs du monde. Cela s&#8217;explique par la forte concurrence qui a caractérisé le développement récent du secteur et qui a contraint les entreprises concurrentes à se constituer de grandes réserves de capacité pour capter le marché face à leurs concurrents et à exploiter les rendements croissants d&#8217;échelle pour réduire leurs coûts de production. Ainsi, L&#8217;exigence croissante en termes d&#8217;échelle minimale a obligé les entreprises à se lancer dans de grandes expansions de leur capacité pour répondre aux exigences de la concurrence à l&#8217;échelle mondiale. La contradiction entre un modèle d&#8217;expansion comme celui-ci, déterminé par des critères d&#8217;efficience, par rapport à la tendance de la demande d&#8217;acier, typiquement cyclique, explique la formation d&#8217;une grande capacité dans le monde entier. JEL: D22, D24, L11, L6.]]></p></abstract>
<abstract abstract-type="short" xml:lang="pt"><p><![CDATA[Resumo Após quinze anos de expansão impulsionada por uma demanda vigorosa, a indústria siderúrgica enfrenta um problema de excesso de capacidade que afeta todos os grandes países produtores do mundo. Isto se explica a partir da forte competência que tem caracterizado o desenvolvimento recente do setor e que tem obrigado as empresas concorrentes a formar grandes reservas de capacidade para captar mercado diante de seus rivais e a explorar os rendimentos crescentes a escala para baixar seus custos de produção. Deste modo, a crescente exigência em termos de escala mínima tem obrigado as empresas a realizar grandes expansões de sua capacidade para cumprir os requisitos que marca a competência em escala mundial. A contradição entre um padrão de expansão como este, determinado por critérios de eficiência, no que se refere à pauta da demanda de aço, tipicamente cíclica, explica a formação de um grande excesso de capacidade no mundo todo. JEL: D22, D24, L11, L6.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[competencia]]></kwd>
<kwd lng="es"><![CDATA[exceso de capacidad]]></kwd>
<kwd lng="es"><![CDATA[reserva de capacidad]]></kwd>
<kwd lng="es"><![CDATA[rendimientos crecientes]]></kwd>
<kwd lng="es"><![CDATA[escala mínima eficiente.]]></kwd>
<kwd lng="en"><![CDATA[Competition]]></kwd>
<kwd lng="en"><![CDATA[overcapacity]]></kwd>
<kwd lng="en"><![CDATA[reserve of capacity]]></kwd>
<kwd lng="en"><![CDATA[increasing returns]]></kwd>
<kwd lng="en"><![CDATA[minimum efficient scale.]]></kwd>
<kwd lng="fr"><![CDATA[concurrence]]></kwd>
<kwd lng="fr"><![CDATA[excès de capacité]]></kwd>
<kwd lng="fr"><![CDATA[réserve de capacité]]></kwd>
<kwd lng="fr"><![CDATA[rendements croissants]]></kwd>
<kwd lng="fr"><![CDATA[échelle minimale eficiente.]]></kwd>
<kwd lng="pt"><![CDATA[e: competência]]></kwd>
<kwd lng="pt"><![CDATA[excesso de capacidade]]></kwd>
<kwd lng="pt"><![CDATA[reserva de capacidade]]></kwd>
<kwd lng="pt"><![CDATA[rendimentos crescentes]]></kwd>
<kwd lng="pt"><![CDATA[escala mínima eficiente.]]></kwd>
</kwd-group>
</article-meta>
</front><back>
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