Part of the Contributions to Economics book series (CE)


Within the World Bank’s classification, Colombia is at present considered as an upper-middle-income economy. The country’s growth performance for almost 50 years, its sound macroeconomic management, and its democratic tradition, are some factors that have been recognized by leading international economic institutions. Other recent positive developments that have been praised are, among others, its accelerating economic growth between 2002 and 2007—mainly due to advancements in domestic security, to rising commodity prices, and to the current administration’s pro-market economic policies. Moreover, investor friendly reforms to the hydrocarbon sector and the US-Colombia Trade Promotion Agreement (CTPA) negotiations have attracted record levels of foreign investment during the last years. Taking into account that at the end of the 1990s this nation stood on the brink of a social and economic collapse, the above mentioned accomplishments appear particularly impressive. As stated by the World Bank (2010a), while other Latin American and Caribbean nations have been fighting against inequality, poverty or violence, Colombia has been facing all three at the same time.


Gravity Model Gravity Equation Revealed Comparative Advantage Export Diversification Regional Trade Agreement 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


  1. Agosin MR (2006) Trade and growth: why Asia grows faster than Latin America, vol 1. Inter-American Development Bank, Washington DCGoogle Scholar
  2. Ali R, Alwang J, Siegel PB (1991) Is export diversification the best way to achieve export growth and stability? A look at three African countries. Pollcy, Research, and External Affairs, Working Papers, Agriculture Operations, Agriculture Operations Division, Southern Africa Department, Africa Regional Office, 1–44Google Scholar
  3. Bebczuk RN, Berrettoni ND (2006) Explaining export diversification: an empirical analysis. Unpublished manuscript. Retrieved 10 Dec 2009, from
  4. Correia J. (2008). The determinants of colombian exports: an empirical analysis using the gravity model. Desarrollo y Sociedad 165-206Google Scholar
  5. Cramer C (1999) Can Africa industrialize by processing primary commodities? The case of Mozambican cashew nuts. World Dev 27(7):1247–1266. doi: 10.1016/S0305-750X(99)00053-4 CrossRefGoogle Scholar
  6. Dollar D (1986) Technological innovation, capital mobility, and the product cycle in north-south trade. Am Econ Rev 76(1):177–190Google Scholar
  7. Grossman GM, Helpman E (1991) Innovation and growth in the global economy. MIT Press, Cambridge, MAGoogle Scholar
  8. Love J (1983) Concentration, diversification and earnings instability: some evidence on developing countries' exports of manufactures and primary products. World Dev 11(9):787–793. doi: 10.1016/0305-750X(83)90091-8 CrossRefGoogle Scholar
  9. Rose AK, Lockwood B, Quah D (2000) One money, one market: the effect of common currencies on trade. Econ Policy 15(30):9–45CrossRefGoogle Scholar
  10. Segerstrom PS, Anant TCA, Dinopoulos E (1990) A Schumpeterian model of the product life cycle. Am Econ Rev 80(5):1077–1091Google Scholar
  11. The Economist (2010) It's only natural: commodities alone are not enough to sustain flourishing economiesGoogle Scholar
  12. Vernon R (1966) International investment and international trade in the product cycle. Q J Econ 80(2):190–207CrossRefGoogle Scholar
  13. Caballero, C., 2010. Que sea una bendición, no una maldición, Portafolio, [online]. Available at: [Accessed June 4, 2010]
  14. Brenton,P.;Newfarmer,R.; Shaw,W.; and Walkenhorst, P. (2009). Breaking into new markets: overview. In: P.Brenton, W.Shaw and P. Walkenhorst,eds. 2009. Breaking into new markets: emerging lessons for export diversification. Washington DC: The World Bank, pp. 1–35Google Scholar
  15. Moreno, A., and Posada, H. (2006). Evolución del comercio intraindustrial entre las regiones colombianas y la comunidad andina, 1990-2004:un anÃlisis comparativo. Munich Personal RePEc Archive, 4936, 1–37Google Scholar
  16. Sala-i-Martin X, Blanke J, Drzeniek Hanouz M, Geiger T, and Mia I (2009) The global competitiveness index 2009–2010: Contributing to long-term prosperity amid the global economic crisis. In K. Schwab (Ed.), The global competitiveness report 2009-2010 (pp. 3–47). Geneva: World Economic ForumGoogle Scholar

Copyright information

© Physica-Verlag HD 2011

Authors and Affiliations

  1. 1.School of Business AdministrationEAFIT UniversityMedellínColombia

Personalised recommendations