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El impacto de la infraestructura en el crecimiento económico colombiano: un enfoque smithiano

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  • Ortiz, Carlos Humberto
  • Jiménez, Diana
  • Cruz, Gissel

Abstract

Resumen: En este trabajo se propone una nueva forma de calcular el acervo infraestructural, el cual se compone de todos los activos durables de uso público, ya sean construidos por agentes privados o estatales. De esta forma, las regresiones del crecimiento económico para Colombia arrojan que no se puede descartar la hipótesis de rendimientos constantes a escala en el capital empresarial (agregado del capital fijo y el capital humano) y en la infraestructura. Se estima, además, que la elasticidad producto de la infraestructura es significativamente mayor que la del capital empresarial. Una vez se controla por la acumulación de los factores productivos, los principales determinantes del crecimiento (y la productividad) son la diversificación del sector industrial manufacturero, la capacidad de compra de la población y la tasa de homicidios. El enfoque smithiano del desarrollo económico es compatible con estos hallazgos. Finalmente, la descomposición del crecimiento económico nacional sugiere que este ha sido predominantemente extensivo. Abstract: This paper proposes a new way of calculating the infrastructural stock. This is composed of all durable assets for public use, whether built by private or state agents. In this way, economic growth regressions for Colombia yield that the hypothesis of constant returns to scale in entrepreneurial capital (aggregate of fixed and human capital) and infrastructure cannot be ruled out. It is also estimated that the product elasticity of infrastructure is significantly greater than that of entrepreneurial capital. Once controlled for the accumulation of production factors, the main determinants of growth (and productivity) are the diversification of the manufacturing industrial sector, the purchasing power of the population, and the homicide rate. The Smithian approach to economic development is compatible with these findings. Finally, the decomposition of national economic growth suggests that this has been predominantly extensive

Suggested Citation

  • Ortiz, Carlos Humberto & Jiménez, Diana & Cruz, Gissel, 2019. "El impacto de la infraestructura en el crecimiento económico colombiano: un enfoque smithiano," Revista Lecturas de Economía, Universidad de Antioquia, CIE, issue 90, pages 97-126, January.
    • Handle: RePEc:col:000174:017441
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    References listed on IDEAS

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    Cited by:

    1. Carlos Humberto Ortiz & Diana Marcela Jiménez & María Liliam Jaramillo, 2019. "Productive diversification and structural change in closed and open economies," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 91, pages 11-39, Julio - D.
    2. Ortiz, Carlos Humberto & Jiménez, Diana Marcela & Jaramillo, María Liliam, 2019. "Diversificación productiva y cambio estructural en economías cerradas y abiertas," Revista Lecturas de Economía, Universidad de Antioquia, CIE, issue 91, pages 1-29, July.
    3. Luis Fernando Mejía & Martha Elena Delgado, 2020. "Impacto macroeconómico y social de la inversión en infraestructura en Colombia, 2021-2030," Informes de Investigación 18275, Fedesarrollo.
    4. Juan Benavides & Marthe E. Delgado-Rojas & Felipe Castro & Alejandra Fonseca & Sebastián Bernal, 2022. "Documento de Análisis Regulatorio y Económico Sectorial - ARES Colombia 2022," Informes de Investigación 20739, Fedesarrollo.

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    More about this item

    Keywords

    Infraestructura; crecimiento económico; diversificación productiva; capacidad de compra; derechos de propiedad; rendimientos a escala;
    All these keywords.

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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