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

Autor:	Andrés Oviedo-Gómez, Juan Manuel Candelo
Jazyk:	angličtina
Rok vydání:	2022
Předmět:	Economics as a science Sociology and Political Science Political Science and International Relations international trade analysis of time series VAR models Colombia economic activity General Economics Econometrics and Finance Prices of raw materials HB71-74
Zdroj:	Brazilian Journal of Political Economy, Vol 42, Iss 1, Pp 71-87 (2022) Brazilian Journal of Political Economy v.42 n.1 2022 Revista de Economia Política EDITORA 34 instacron:EDITORA_34
ISSN:	1809-4538
Popis:	Economic growth is not always related to social welfare. Therefore, this paper takes the case of the Colombian economy that has a strong dependence on commodity exploitation to identify the impacts of different commodities such as oil, coffee, coal, and nickel over economic variables. The results show that the increase in prices of commodities generates 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 as total consumption or the unemployment rate.
Databáze:	OpenAIRE
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