Mismanagement amid resource abundance
Sovereign risk, private sector credit rationing, and economic stagnation in Colombia, 1861-98
Bibliographic Data
| ID | 3593124 |
|---|---|
| Authors | Andrew Primmer (Department of Economics University of Reading, corresponding author) |
| Year | 2025 |
| Publication date | 2025-02-05 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Economic History Review (JOURNAL) |
| Journal identifiers | ISSN: 0013-0117 • E-ISSN: 1468-0289 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/ehr.13414 |
| OpenAlex | W4407151050 |
| Language | EN |
| References cited | 46 |
This article examines the relationship between national politics, sovereign default, credit rationing, and their effects on fiscal revenues and exports in nineteenth-century Colombia. Using quantitative and qualitative analysis, it challenges existing narratives on Colombia's lack of sustained nineteenth-century export-led development, showing that sovereign default was a political choice with long-term negative impacts. The study highlights how credit rationing and technological backwardness hindered economic growth. It argues that these policies caused Colombia's economic stagnation, leading to boom-and-bust cycles in export crop production. It identifies substantial growth during the liberal era and minimal growth during the regeneración period
Business · Credit rationing · Economic growth · Economic policy · Economic stagnation · Economics · Financial system · Interest rate · Natural resource economics · Political science · Politics · Private sector · Resource (disambiguation) · Economic Theory and Policy · Finance · Global Financial Crisis and Policies · History and Politics in Latin America
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| Citation velocity | historical |
|---|---|
| Highly cited | No |