Colombian Economic Growth, Investment and Saving: From 1954 to 2019 and Beyond

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dc.contributor.authorPosada, Carlos Esteban
dc.contributor.eafitauthorcposad25@eafit.edu.co
dc.coverage.spatialMedellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degreeseng
dc.date.accessioned2019-08-20T22:02:35Z
dc.date.available2019-08-20T22:02:35Z
dc.date.issued2019-08-20
dc.description.abstractThis paper presents an interpretation of post-1953 Colombian economic growth and a discussion on future outcomes. The interpretation takes the form of a data playback guided by the decentralized equilibrium version of the Cass-KoopmansRamsey model. The role of technical change as a driver of GDP growth,household income and average wage is highlighted. The model leads to an unusual conclusion when it is applied to a small open economy like the Colombian one: the higher the rate of expected technical change, the higher the firms ´s investment rate and the lower the households’ savings rate, remaining constant other things.eng
dc.identifier.jelE13
dc.identifier.jelE21
dc.identifier.jelE22
dc.identifier.jelF41
dc.identifier.jelF43
dc.identifier.jelO11
dc.identifier.jelO41
dc.identifier.jelO54
dc.identifier.urihttp://repository.eafit.edu.co/handle/10784/13762
dc.language.isoengeng
dc.publisherUniversidad EAFITspa
dc.publisher.departmentEscuela de Economía y Finanzasspa
dc.rights.accessrightsinfo:eu-repo/semantics/openAccesseng
dc.rights.localAcceso abiertospa
dc.subject.keywordColombian Economic Growthspa
dc.subject.keywordCass-Koopmans-Ramsey Modelspa
dc.subject.keywordSmall Open Economyspa
dc.subject.keywordTechnical Changespa
dc.subject.keywordInterest Ratespa
dc.subject.keywordInvestmentspa
dc.subject.keywordHouseholds Savingsspa
dc.titleColombian Economic Growth, Investment and Saving: From 1954 to 2019 and Beyondeng
dc.typeworkingPapereng
dc.typeinfo:eu-repo/semantics/workingPapereng
dc.type.hasVersiondrafteng
dc.type.localDocumento de trabajo de investigaciónspa

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