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

This 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 gro...

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Autores:
Posada, Carlos Esteban
Tipo de recurso:
Fecha de publicación:
2019
Institución:
Universidad EAFIT
Repositorio:
Repositorio EAFIT
Idioma:
eng
OAI Identifier:
oai:repository.eafit.edu.co:10784/13762
Acceso en línea:
http://repository.eafit.edu.co/handle/10784/13762
Palabra clave:
Colombian Economic Growth
Cass-Koopmans-Ramsey Model
Small Open Economy
Technical Change
Interest Rate
Investment
Households Savings
Rights
License
Acceso abierto
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spelling Medellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degrees2019-08-20T22:02:35Z2019-08-202019-08-20T22:02:35Zhttp://repository.eafit.edu.co/handle/10784/13762E13E21E22F41F43O11O41O54This 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.engUniversidad EAFITEscuela de Economía y FinanzasColombian Economic Growth, Investment and Saving: From 1954 to 2019 and BeyondworkingPaperinfo:eu-repo/semantics/workingPaperDocumento de trabajo de investigacióndrafthttp://purl.org/coar/version/c_b1a7d7d4d402bccehttp://purl.org/coar/resource_type/c_8042Acceso abiertohttp://purl.org/coar/access_right/c_abf2Colombian Economic GrowthCass-Koopmans-Ramsey ModelSmall Open EconomyTechnical ChangeInterest RateInvestmentHouseholds Savingscposad25@eafit.edu.coPosada, Carlos EstebanLICENSElicense.txtlicense.txttext/plain; charset=utf-82556https://repository.eafit.edu.co/bitstreams/58886fab-4b47-43f9-a0e1-2ed41924c035/download76025f86b095439b7ac65b367055d40cMD51ORIGINALWP_2019_09_Carlos Esteban Posada.pdfWP_2019_09_Carlos Esteban Posada.pdfapplication/pdf1684657https://repository.eafit.edu.co/bitstreams/aad2081b-ce65-49c8-a6dd-17be863ee9fa/download1f2e1884351a4ad137ebcf306f215ac4MD5210784/13762oai:repository.eafit.edu.co:10784/137622024-03-05 14:06:34.439open.accesshttps://repository.eafit.edu.coRepositorio Institucional Universidad EAFITrepositorio@eafit.edu.co
dc.title.eng.fl_str_mv Colombian Economic Growth, Investment and Saving: From 1954 to 2019 and Beyond
title Colombian Economic Growth, Investment and Saving: From 1954 to 2019 and Beyond
spellingShingle Colombian Economic Growth, Investment and Saving: From 1954 to 2019 and Beyond
Colombian Economic Growth
Cass-Koopmans-Ramsey Model
Small Open Economy
Technical Change
Interest Rate
Investment
Households Savings
title_short Colombian Economic Growth, Investment and Saving: From 1954 to 2019 and Beyond
title_full Colombian Economic Growth, Investment and Saving: From 1954 to 2019 and Beyond
title_fullStr Colombian Economic Growth, Investment and Saving: From 1954 to 2019 and Beyond
title_full_unstemmed Colombian Economic Growth, Investment and Saving: From 1954 to 2019 and Beyond
title_sort Colombian Economic Growth, Investment and Saving: From 1954 to 2019 and Beyond
dc.creator.fl_str_mv Posada, Carlos Esteban
dc.contributor.eafitauthor.none.fl_str_mv cposad25@eafit.edu.co
dc.contributor.author.none.fl_str_mv Posada, Carlos Esteban
dc.subject.keyword.spa.fl_str_mv Colombian Economic Growth
Cass-Koopmans-Ramsey Model
Small Open Economy
Technical Change
Interest Rate
Investment
Households Savings
topic Colombian Economic Growth
Cass-Koopmans-Ramsey Model
Small Open Economy
Technical Change
Interest Rate
Investment
Households Savings
description This 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.
publishDate 2019
dc.date.available.none.fl_str_mv 2019-08-20T22:02:35Z
dc.date.issued.none.fl_str_mv 2019-08-20
dc.date.accessioned.none.fl_str_mv 2019-08-20T22:02:35Z
dc.type.eng.fl_str_mv workingPaper
info:eu-repo/semantics/workingPaper
dc.type.coarversion.fl_str_mv http://purl.org/coar/version/c_b1a7d7d4d402bcce
dc.type.coar.fl_str_mv http://purl.org/coar/resource_type/c_8042
dc.type.local.spa.fl_str_mv Documento de trabajo de investigación
dc.type.hasVersion.eng.fl_str_mv draft
dc.identifier.uri.none.fl_str_mv http://repository.eafit.edu.co/handle/10784/13762
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dc.language.iso.eng.fl_str_mv eng
language eng
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dc.rights.local.spa.fl_str_mv Acceso abierto
rights_invalid_str_mv Acceso abierto
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dc.coverage.spatial.eng.fl_str_mv Medellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degrees
dc.publisher.spa.fl_str_mv Universidad EAFIT
dc.publisher.department.spa.fl_str_mv Escuela de Economía y Finanzas
institution Universidad EAFIT
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