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Economic growth without welfare. The case of the impact of commodities on the Colombian economy.

Authors :
FELIPE OVIEDO-GÓMEZ, ANDRÉS
CANDELO VIAFARA, JUAN MANUEL
Source :
Brazilian Journal of Political Economy / Revista de Economia Política. jan-mar2022, Vol. 42 Issue 1, p71-87. 17p.
Publication Year :
2022

Abstract

Economic growth is not always related to social welfare. Therefore, this paper takes the case of the Colombian economy that has a strong dependence on commodity exploitation to identify the impacts of different commodities such as oil, coffee, coal, and nickel over economic variables. The results show that the increase in prices of commodities generates significant impacts on economic activity in variables such as GDP and investment. Also, there are no significant impacts on variables that provide welfare to individuals as total consumption or the unemployment rate. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
01013157
Volume :
42
Issue :
1
Database :
Academic Search Index
Journal :
Brazilian Journal of Political Economy / Revista de Economia Política
Publication Type :
Academic Journal
Accession number :
154914990
Full Text :
https://doi.org/10.1590/0101-31572021-3018