Could the Colombian economy grow faster? How it would be possible?

Serie

• Documentos de Trabajo CIEF

Resumen

• This paper presents an economic growth model based on the positive externalities generated by the accumulations of physical and human capital. Such externalities imply, at the macroeconomic level, increasing returns to scale. The model helps to better understand the Colombian economic growth process from 2005-2019, and make conditional forecasts. One of the big obstacles in Colombia to have higher growth rates of the per capita product in the long term is everything that is slowing down a higher human capital growth rate and a greater creation of externalities derived from human capital, that is, everything that is hindering improvements in coverage and quality of the educational process.

autores

• Posada, Carlos Esteban

fecha de publicación

• 2021

Área temática

• O11 - Análisis macroeconómico del desarrollo económico
• O33 - Cambio tecnológico: opciones y consecuencias; Difusión
• O41 - Modelos de crecimiento de uno, dos o varios sectores
• O47 - estudios empíricos del crecimiento económico; Productividad agregada; Convergencia
• O54 - Estudios económicos globales de países: América Latina; Caribe

Enfoque geográfico

• Colombia  Country
• South America  Continent

Líneas de investigación

• Economic growth
• externalities
• growth accounting
• human capital
• increasing returns to scale
• production function

Issue

• 21-10