Colombia has been regarded in the international community as an exception to the disequilibria and mismanagement that have characterised the Latin American countries in the last decade. This conception contains an important element of truth. Indeed, Colombia has lower debt ratios, more moderate fiscal deficits and has experienced smaller contractions of real income per capita in the 1980s than most countries in the region. This situation reflects, in turn, both a tradition of prudent economic management — which includes a long experience with the crawling peg, exchange regulations, import controls and export promotion policies — and favourable external conditions in the second half of the 1970s, which allowed the country to face the 1980s with an unquestionably strong net debt position.
Weitere Kapitel dieses Buchs durch Wischen aufrufen
- Crisis and Economic Policy in Colombia, 1980–5
José Antonio Ocampo
- Palgrave Macmillan UK
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