Colombia in the Two Stages of Globalization

Revista de Economía Institucional, Vol. 9, No. 17, 2007

Posted: 9 Dec 2007

Abstract

The historians of the globalization process divide it in two great periods: 1860 to 1914, followed by the disintegration of trade, capital and labor flows, and from 1950 to the present. This essay attempts to understand the performance of the Colombian economy during the two globalizations. In spite of entering into the first phase late, it did very well, maybe because its point of departure on the scale of development was extremely low. The participation of the flows of trade and capital in its gross product increased systematically until 1930. In the second phase, however, Colombia's performance was mediocre, with high barriers imposed against trade and foreign investment, while at the same time its financial sector was repressed to benefit some agents with political power.

Note: Downloadable document is in Spanish.

Keywords: Colombia, globalization, economic development, international trade

JEL Classification: F13, F15, F43

Suggested Citation

Kalmanovitz, Salomon, Colombia in the Two Stages of Globalization. Revista de Economía Institucional, Vol. 9, No. 17, 2007, Available at SSRN: https://ssrn.com/abstract=1038061

Salomon Kalmanovitz (Contact Author)

Jorge Tadeo Lozano University ( email )

Carrera 4 # 22 - 61
Bogota, DC Cund 57
Colombia

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