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La deuda externa colombiana durante los 20s y los 30s. Algunas ensenanzas para el presente

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  • Juan José Echavarría

Abstract

“El endeudamiento externo de los países subdesarrollados se ha convertido nuevamente en un tópico de crucial importancia en el debate sobre las diferentes alternativas de desarrollo económico. El inmenso superávit de los países petroleros, el consecuente déficit de nuestros países y la honda convicción que parece observarse en la mayoría de burócratas del Tercer Mundo, y en sus asesores, sobre las bondades de un proceso de apertura, ha llevado a una situación preocupante. En Colombia, con algunas excepciones, el pago de la deuda no ha sido motivo de particular preocupación en los últimos 40 anos. Este ensayo analiza la historia de la deuda externa colombiana. La primera sección muestra cómo, hasta principios de siglo, Colombia era un prestatario de la peor calidad, sin posibilidades de obtener capital en el extranjero. Pero las condiciones nacionales e internacionales cambian radicalmente durante los 20s y en especial a partir de 1925/26. El nuevo capital llega al país en sumas jamás imaginadas en el pasado, y con un dinamismo mucho mayor que en el resto de Latinoamérica. La segunda sección analiza los anos posteriores a la crisis, cuando se concede toda clase de prebendas a los diferentes grupos extranjeros y cuando el gobierno hipoteca al país para obtener el capital que tan desesperadamente necesita. Muestra los factores que llevaron a la moratoria, y termina con un análisis de las negociaciones finales durante el gobierno de Santos. La sección final compara brevemente el período de los 20s y 30s con la situación actual.”

Suggested Citation

  • Juan José Echavarría, 1982. "La deuda externa colombiana durante los 20s y los 30s. Algunas ensenanzas para el presente," Coyuntura Económica, Fedesarrollo, vol. 12(2), pages 85-119, July.
  • Handle: RePEc:col:000438:014020
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    File URL: http://hdl.handle.net/11445/2564
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    References listed on IDEAS

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    1. Frank, Charles Jr. & Cline, William R., 1971. "Measurement of debt servicing capacity: An application of discriminant analysis," Journal of International Economics, Elsevier, vol. 1(3), pages 327-344, August.
    2. Nelson, Richard R, 1970. "The Effective Exchange Rate: Employment and Growth in a Foreign Exchange-Constrained Economy," Journal of Political Economy, University of Chicago Press, vol. 78(3), pages 546-564, May-June.
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    Cited by:

    1. Adolfo Meisel-Roca & María Teresa Ramírez-Giraldo & Juliana Jaramillo-Echeverri, 2016. "Too late but profitable: Railroads in Colombia during 1920–1950," Investigaciones de Historia Económica - Economic History Research (IHE-EHR), Journal of the Spanish Economic History Association, Asociación Española de Historia Económica, vol. 12(03), pages 165-180.

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    More about this item

    Keywords

    Deuda Externa; Historia Económica; Colombia;
    All these keywords.

    JEL classification:

    • N00 - Economic History - - General - - - General
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems

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