| Abstrakt: |
From 2004 to 2014, Colombia's average GDP per capita growth rate was 3.61 percent. If that rate were to be maintained, Colombia would take 71 years to catch Norway's current GDP per capita, the 2nd highest in the world. Historically, the country's growth has been based on natural resources which represent nearly 80 percent of total exports. However, with commodity prices declining, the question is whether natural resources will continue to be the base to build upon. This paper analyzes Colombia's binding constraint to long-term growth, taking Norte de Santander, a bordering state with Venezuela, as a case study. [ABSTRACT FROM AUTHOR] |
