Publication:
Colombia : Country Economic Memorandum, The Foundations for Competitiveness

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dc.contributor.authorWorld Bank
dc.date.accessioned2012-06-22T17:25:50Z
dc.date.available2012-06-22T17:25:50Z
dc.date.issued2005-11
dc.description.abstractSince Colombia's last Country Economic Memorandum (CEM) (1989) the country has endured several years of slow growth, burgeoning fiscal deficits, and high levels of debt. Colombia now is seeking to join a free trade agreement (FTA) with the United States in the hope of stimulating growth and improving living conditions for the country as a whole. In response to the opportunities and challenges presented by the proposed FTA with the United States, the Colombian government has launched an "internal agenda," an action plan that involves major stakeholders -- public sector, private sector, and regional government -- aimed at obtaining greater levels of competitiveness. The government has articulated the need for greater understanding of the impact of the proposed FTA, and a strategy for a reform agenda that would enable the country to capture the potential benefits from freer trade and facilitate the transition to greater openness. This report is produced as an input into Colombia's reform agenda. It starts with an executive summary and policy report which presents the main findings and key policy recommendations of the three chapters comprising the report. Chapter 1 evaluates Colombia's business and growth environment and the likely challenges the manufacturing sector will face in taking advantage of the FTA with the United States. The chapter consists of three sections. Section I uses detailed survey data to identify the top constraints on growth and competitiveness of Colombian firms. Section 2 analyzes key developments in the manufacturing sector following the trade liberalization of 1990-91 using micro-level data, and highlights areas where reforms are needed. Section 3 examines the challenges and opportunities faced by small and medium-sized businesses in confronting a more open trading environment. Chapter 2 builds on the microeconomic issues raised in the first chapter, and follows with an evaluation of macroeconomic and fiscal (tax and expenditure) policies that are important for making the Colombian economy competitive. In this context, the study also evaluates the sustainability and trajectory of public debt. Finally, Chapter 3 examines the likely impact of agricultural liberalization on income distribution in the country under the proposed Colombian-U.S. FTA -- identifying who are the likely gainers and losers -- and assesses its impact on economic growth and poverty in the country.en
dc.identifierhttp://documents.worldbank.org/curated/en/2005/11/6881242/colombia-country-economic-memorandum-foundations-competitiveness
dc.identifier.doi10.1596/8807
dc.identifier.urihttps://hdl.handle.net/10986/8807
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCORDS
dc.subjectADJUSTMENT ASSISTANCE
dc.subjectADMINISTRATIVE PROCEDURES
dc.subjectAGGREGATE DEMAND
dc.subjectAGRICULTURAL PRICE
dc.subjectAGRICULTURAL TRADE LIBERALIZATION
dc.subjectAGRICULTURE
dc.subjectANNUAL GROWTH
dc.subjectBUSINESS ENVIRONMENT
dc.subjectCAPACITY UTILIZATION
dc.subjectCAPITAL INFLOWS
dc.subjectCAPITAL MARKETS
dc.subjectCAPITAL STOCK
dc.subjectCOMMERCE
dc.subjectCOMPARATIVE ADVANTAGE
dc.subjectCOMPARATIVE DISADVANTAGE
dc.subjectCOMPETITIVENESS
dc.subjectCONSUMPTION PATTERNS
dc.subjectCORPORATE GOVERNANCE
dc.subjectCOUNTRY GROWTH
dc.subjectCURRENCY
dc.subjectDEBT
dc.subjectDECENTRALIZATION
dc.subjectDEFICITS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT INDICATORS
dc.subjectDEVELOPMENT STRATEGY
dc.subjectDISTRIBUTIONAL EFFECTS
dc.subjectDISTRIBUTIONAL IMPACT
dc.subjectDOMESTIC CREDIT
dc.subjectDOMESTIC ECONOMY
dc.subjectDOMESTIC MARKETS
dc.subjectDOMESTIC PRODUCTION
dc.subjectDYNAMIC PANEL
dc.subjectECONOMIC ACTIVITIES
dc.subjectECONOMIC CONDITIONS
dc.subjectECONOMIC EFFECTS
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC IMPACT
dc.subjectECONOMIC OPPORTUNITIES
dc.subjectECONOMIC PERFORMANCE
dc.subjectECONOMIC SHOCKS
dc.subjectECONOMIES OF SCALE
dc.subjectEDUCATION LEVEL
dc.subjectESTIMATED REDUCTION
dc.subjectEXCHANGE RATE
dc.subjectEXPORT GROWTH
dc.subjectEXPORT ORIENTATION
dc.subjectEXPORT VOLUMES
dc.subjectEXPORTERS
dc.subjectEXPORTS
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL SHOCKS
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFISCAL POLICY
dc.subjectFISCAL RESPONSIBILITY
dc.subjectFIXED EFFECTS
dc.subjectFOREIGN DIRECT INVESTMENTS
dc.subjectFOREIGN INVESTMENT
dc.subjectFREE TRADE
dc.subjectFREE TRADE AGREEMENT
dc.subjectFREER TRADE
dc.subjectGDP
dc.subjectGDP PER CAPITA
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT EXPENDITURES
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROWTH EFFECT
dc.subjectGROWTH POTENTIAL
dc.subjectGROWTH RATE
dc.subjectGROWTH REGRESSION
dc.subjectHIGH COST
dc.subjectHOUSEHOLD INCOME
dc.subjectHOUSEHOLD WELFARE
dc.subjectHUMAN CAPITAL
dc.subjectIMPACT OF TRADE
dc.subjectIMPROVING PRODUCTIVITY
dc.subjectINCOME
dc.subjectINCOME CONVERGENCE
dc.subjectINCOME COUNTRIES
dc.subjectINCOME DISTRIBUTION
dc.subjectINCOME SOURCE
dc.subjectINCOME SOURCES
dc.subjectINCOME TAX
dc.subjectINCREASE GROWTH
dc.subjectINDUSTRIAL DEVELOPMENT
dc.subjectINDUSTRIAL PRODUCTION
dc.subjectINDUSTRIAL PRODUCTIVITY
dc.subjectINDUSTRIAL SECTOR
dc.subjectINFLATION
dc.subjectINFRASTRUCTURE FINANCING
dc.subjectINFRASTRUCTURE INVESTMENT
dc.subjectINSURANCE
dc.subjectINTERNATIONAL COMPARISONS
dc.subjectINTERNATIONAL MARKETS
dc.subjectINTERNATIONAL STANDARD
dc.subjectINTERNATIONAL TRADE
dc.subjectINVESTMENT ACTIVITY
dc.subjectINVESTMENT CLIMATE
dc.subjectJUDICIAL SYSTEM
dc.subjectLABOR FORCE
dc.subjectLABOR MARKET
dc.subjectLABOR MARKET FLEXIBILITY
dc.subjectLABOR MOBILITY
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGAL RULES
dc.subjectLOCAL AUTHORITIES
dc.subjectLOCAL GOVERNMENTS
dc.subjectLONG RUN
dc.subjectMACROECONOMIC ENVIRONMENT
dc.subjectMACROECONOMIC INSTABILITY
dc.subjectMACROECONOMIC POLICY
dc.subjectMACROECONOMIC STABILITY
dc.subjectMACROECONOMIC VARIABLES
dc.subjectMARKET COMPETITION
dc.subjectMARKET COUNTRIES
dc.subjectMARKET OPENING
dc.subjectMARKET POSITION
dc.subjectMARKETING
dc.subjectMERCHANDISE
dc.subjectMERCHANDISE EXPORT
dc.subjectMINIMUM WAGE
dc.subjectMONEY LAUNDERING
dc.subjectMULTILATERAL TRADE
dc.subjectOIL PRICES
dc.subjectOPEN ECONOMY
dc.subjectOPEN MARKETS
dc.subjectOPEN TRADE
dc.subjectOPENNESS
dc.subjectPANEL REGRESSIONS
dc.subjectPER CAPITA GROWTH
dc.subjectPOLICY CHANGES
dc.subjectPOLICY ENVIRONMENT
dc.subjectPOLICY REFORMS
dc.subjectPOLITICAL ECONOMY
dc.subjectPOLITICAL INSTITUTIONS
dc.subjectPOSITIVE GROWTH
dc.subjectPOSITIVE IMPACT
dc.subjectPOTENTIAL BENEFITS
dc.subjectPOVERTY RATES
dc.subjectPOVERTY REDUCTION
dc.subjectPRICE CHANGE
dc.subjectPRICE CHANGES
dc.subjectPRIVATE SECTOR
dc.subjectPRODUCER PRICE
dc.subjectPRODUCT DIFFERENTIATION
dc.subjectPROPERTY RIGHTS
dc.subjectPUBLIC
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC EXPENDITURE
dc.subjectPUBLIC EXPENDITURE REVIEW
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SECTOR DEFICIT
dc.subjectPUBLIC SPENDING
dc.subjectRAPID INCREASE
dc.subjectREAL GDP
dc.subjectREAL OUTPUT
dc.subjectRECIPROCAL REDUCTION
dc.subjectREDUCED POVERTY
dc.subjectREDUCING POVERTY
dc.subjectREDUCING TRANSACTIONS COSTS
dc.subjectREGRESSION ANALYSIS
dc.subjectREGRESSION RESULTS
dc.subjectREGULATORY FRAMEWORK
dc.subjectRESTRICTIVE RULES OF ORIGIN
dc.subjectROADS
dc.subjectRULE OF LAW
dc.subjectRULES OF ORIGIN
dc.subjectSHORT-TERM IMPACT
dc.subjectSIGNIFICANT IMPACT
dc.subjectSOCIAL SECURITY
dc.subjectSOCIAL SERVICES
dc.subjectSTANDARD OF LIVING
dc.subjectSTRUCTURAL REFORMS
dc.subjectSUBNATIONAL GOVERNMENTS
dc.subjectTAX
dc.subjectTAX BASE
dc.subjectTAX EXEMPTIONS
dc.subjectTAX RATES
dc.subjectTAX REFORM
dc.subjectTAX REVENUE
dc.subjectTAX SYSTEM
dc.subjectTAXATION
dc.subjectTECHNOLOGICAL CHANGE
dc.subjectTECHNOLOGICAL DEVELOPMENT
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.subjectTRADE ASSISTANCE
dc.subjectTRADE BALANCE
dc.subjectTRADE BARRIERS
dc.subjectTRADE CLASSIFICATION
dc.subjectTRADE FLOWS
dc.subjectTRADE LIBERALIZATION
dc.subjectTRADE PREFERENCE
dc.subjectTRADE PROMOTION
dc.subjectTRADE REFORM
dc.subjectTRADING OPPORTUNITIES
dc.subjectTRANSACTIONS COSTS
dc.subjectTRANSITIONAL COSTS
dc.subjectTRANSPARENCY
dc.subjectTRANSPORT
dc.subjectTRANSPORTATION
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT RATES
dc.subjectVALUE ADDED
dc.subjectVALUE-ADDED TAX
dc.subjectWAGES
dc.subjectWEALTH
dc.subjectWELFARE GAINS
dc.titleColombia : Country Economic Memorandum, The Foundations for Competitivenessen
dspace.entity.typePublication
okr.date.disclosure2005-12-20
okr.date.doiregistration2025-05-07T09:30:45.734906Z
okr.doctypeEconomic & Sector Work::Country Economic Memorandum
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/2005/11/6881242/colombia-country-economic-memorandum-foundations-competitiveness
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticePoverty
okr.globalpracticeGovernance
okr.globalpracticeTrade and Competitiveness
okr.globalpracticeTrade and Competitiveness
okr.guid235411468026659495
okr.identifier.externaldocumentum000112742_20060626125715
okr.identifier.internaldocumentum6881242
okr.identifier.report32035
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2006/06/26/000112742_20060626125715/Rendered/PDF/320351CO0revised.pdfen
okr.region.administrativeLatin America & Caribbean
okr.region.countryColombia
okr.region.geographicalAmerica
okr.region.geographicalSouth America
okr.sectorPublic Administration
okr.sectorLaw
okr.sectorPublic Administration, Law, and Justice
okr.sectorIndustry and trade
okr.topicInternational Economics and Trade::Trade and Regional Integration
okr.topicEconomic Theory and Research
okr.topicPoverty Reduction::Pro-Poor Growth
okr.topicLaw and Development::Trade Law
okr.topicPublic Sector Economics and Finance
okr.topicInternational Economics and Trade
okr.topicMacroeconomics and Economic Growth
okr.topicPublic Sector Development
okr.unitEconomic Policy Sector (LCSPE)
okr.volume1 of 1
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