Nueva Granada's GDP in 1800: Colonial Boom, Republican Stagnation

Abstract:     
This article measures Nueva Granada's GDP before its Independence, analyzes its economic growth during 1785-1810 and considers some hypothesis about its continuity in the 19th century, with an ending reference point in 1905. These measures are used to make international comparisons with other Latin-American countries and the U.S. economy and to evaluate the share of colonial taxes, transferences to the metropolis, the openness of the economy and the weights of the different sectors in the viceroyalty GDP. The article also highlights the costs of Independence, which are related to the ensuing political disorder and the imperfect democratic institutions built on weak foundations.

Note: Downloadable document is in Spanish.

Number of Pages in PDF File: 23

Keywords: Nueva Granada, colonial taxes, transferences, institutions

JEL Classification: N16, N46

Accepted Paper Series