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Published in:
The Particular Colombian Case in Latin America: A Singular Path with the Same Results Read chapter Read first chapter

2019 | OriginalPaper | Chapter

4. The Liberal Republic, 1930–1945: Overcoming the Great Depression, the Rise of Interventionism, and Economic Slowdown

Author : Ivan Luzardo-Luna

Published in: Colombia’s Slow Economic Growth

Publisher: Springer International Publishing

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Abstract

Between 1930 and 1945, Colombia initiated a process of industrialisation by import substitution, but it could not be completed as the industry did not expand enough into exporting. On the other hand, Mexico saw an accelerated industrialisation based on the textile industry, which developed by substituting imports in the 1930s, and was propelled by its exports to the United States during the Second World War.
Why did Colombia not follow the same path as Mexico? The answer lies in that, unlike the latter, Colombia was not able to absorb mass production technology on a larger scale. In this period, Colombia implemented economic reforms, which meant a mobilisation of resources towards one favoured sector: coffee. This fact led to a considerable underinvestment in the manufacturing industry and services.

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previous chapter The Take-off, 1914–1929: Coffee, Railways, and Regional Divergence
next chapter The Import Substitution Era, 1945–1980: The Consolidation of Interventionism, Financial Repression, and the Slow Way to Industrialisation
Footnotes
1
According to Maddison Project Database, version (2018). Bolt, Jutta, Robert Inklaar, Herman de Jong and Jan Luiten van Zanden (2018), ‘Rebasing “Maddison”: new income comparisons and the shape of long-run economic development’.
 
2
As the one used by Bergoeing et al. (2002).
 
3
Gini coefficient taken from Prados de la Escosura (2007).
 
Literature
Avella, M. (2004). Antecedentes Históricos de la Deuda Colombiana. La Renegociación de la Deuda Externa de Colombia en los 1930 y 1940. Segunda Ronda: 1938–1942. Borradores de Economía, No. 293, Banco de la República.
Bergoeing, R., Kehoe, P., Kehoe, T., & Soto, R. (2002). Policy-Driven Productivity in Chile and Mexico in the 1980s and 1990s. American Economic Review, 92, 16–21.CrossRef
Bushnell, D. (1993). The Making of Modern Colombia: A Nation in Spite of Itself. Berkeley and Los Angeles: University of California Press.
Cardenas, E. (2000). The Process of Accelerated Industrialization in Mexico, 1929–1982. In E. Cardenas, J. Ocampo, & R. Thorp (Eds.), An Economic History of Twentieth-Century Latin America. Volume 3: Industrialization and the State in Latin America. The Postwar Years. London: Palgrave Macmillan.
Junguito, R. (2018). Cien Episodios de la Historia Económica de Colombia. Bogota: Ariel.
Junguito, R., & Rincon, H. (2004). La Politica Fiscal en el siglo XX en Colombia. In M. Urrutia & E. Posada (Eds.), Investigaciones recientes sobre historia económica colombiana. Banco de la República Reportes del Emisor, No. 62.
Kalmanovitz, S. (2017). Nueva Historia Económica de Colombia. Bogota: Universidad Jorge Tadeo Lozano.
Meisel, A., Ramirez, M., & Jaramillo, J. (2018). Más de cien años de avances en el nivel de vida: El caso de Colombia. Cuadernos de Historia Económica, N.46. Banco de la Republica de Colombia.
Montenegro, S. (1982). La industria textil en Colombia: 1900–1945. Desarrollo y Sociedad, N.8, Universidad de los Andes.
Ocampo, J. (2015). Historia Económica de Colombia. Bogota: Fondo de Cultura Económica.
Pachon, A., & Ramirez, M. T. (2006). La Infraestructura de Transporte en Colombia Durante el Siglo XX. Bogota: Fondo de Cultura Económica/Banco de la República.
Prados de la Escosura, L. (2007). Inequality and Poverty in Latin America: A Long-Run Exploration. In T. Hatton, K. O’Rourke, & A. Taylor (Eds.), The New Comparative Economic History. Essays in Honor of Jeffrey G. Williamson. Cambridge, MA: The MIT Press.
Urrutia, M., Pontón, A., & Posada, C. (2002). El Crecimiento Económico Colombiano En El Siglo XX. Bogotá: Fondo de Cultura Eonómica.
Metadata
Title
The Liberal Republic, 1930–1945: Overcoming the Great Depression, the Rise of Interventionism, and Economic Slowdown
Author
Ivan Luzardo-Luna
Copyright Year
2019
Book
Colombia’s Slow Economic Growth

Print ISBN: 978-3-030-25754-5

Electronic ISBN: 978-3-030-25755-2

Copyright Year: 2019

DOI
https://doi.org/10.1007/978-3-030-25755-2_4