IDEAS home Printed from https://ideas.repec.org/a/ekm/repojs/v42y2022i1p71-87id2296.html
   My bibliography  Save this article

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

Author

Listed:
  • Andrés Felipe Oviedo-Gómez
  • Juan Manuel Candelo Viafara

Abstract

Economic growth is not always related to social welfare. Therefore, this papertakes the case of the Colombian economy that has a strong dependence on commodityexploitation to identify the impacts of different commodities such as oil, coffee, coal, andnickel over economic variables. The results show that the increase in prices of commoditiesgenerates 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 astotal consumption or the unemployment rate. JEL Classification: F14; F41; O54.

Suggested Citation

  • Andrés Felipe Oviedo-Gómez & Juan Manuel Candelo Viafara, 2022. "Economic growth without welfare. The case of the impact of commodities on the Colombian economy," Brazilian Journal of Political Economy, Center of Political Economy, vol. 42(1), pages 71-87.
    • Handle: RePEc:ekm:repojs:v:42:y:2022:i:1:p:71-87:id:2296
    as

    Download full text from publisher

    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/2296/2257
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Prices of raw materials; economic activity; international trade; analysis of time series; VAR models; Colombia;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ekm:repojs:v:42:y:2022:i:1:p:71-87:id:2296. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Brazilian Journal of Political Economy (Brazil) (email available below). General contact details of provider: https://centrodeeconomiapolitica.org/repojs/index.php/journal/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.