Mining-energy boom and deepening of dependence in Colombia: insertion in an export model of productive specialization post-1990
Keywords:
primary-export model, productive specialization, mining-energy sector, macroeconomic vulnerability, foreign capital flowsAbstract
This article aims to advance the understanding of the causes of the greater dependence and vulnerability of the Colombian economy, as a result of the process of trade liberalization and financial deregulation, which began in the country in the early 1990s. It is argued that the insertion in a primary-export model of productive specialization, aimed at commodities of the extractive sector, has deepened macroeconomic instability in recent years, given the recurring fluctuations in the international price of mining-energy products. In addition, it is stated that the granting of greater benefits to foreign capital that invests in this sector has contributed to the exacerbation of dependence.
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