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This paper explores in detail the transfer and investment components of the General Budget of the Nation, whose composition is complex to evaluate due to the nature and variety of its items. For the study of these items, the literature on the political economy of the budget and the budget process in Colombia is considered. The transfer and investment items represent about 60 % of the General Budget and have great inflexibility of public spending, due to the diversity of appropriations with legal backing, especially in the transfer's item. The investment is made up of a wide range of social programs, subsidies, and infrastructure projects, which in some cases correspond to commitments acquired in previous terms, through the so-called future terms. The rigidity of the budget deepens with the frequent approval of laws that generate additional spending on a temporary or permanent basis. [ABSTRACT FROM AUTHOR]

The aim of this paper is to examine the state of higher education in Colombia and estimate the efficiency of different academic programs from institutions of higher education in the country. To estimate efficiency measures, we use stochastic frontier techniques and the results of the Saber Pro test. Estimations evaluate the effect of variables associated with the teaching staff and infrastructure of institutions, and environmental factors that are not directly under the control institutions, such as the family income and parental education. Results highlight the importance of environmental factors, suggesting that while many institutions have margin to improve their efficiency, many of them are restricted by the influence of students' socioeconomic factors. [ABSTRACT FROM AUTHOR]