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

2019 | OriginalPaper | Chapter

2. The Price of the Regeneration: How Colombia Missed the Belle-Époque, 1870–1914

Author : Ivan Luzardo-Luna

Published in: Colombia’s Slow Economic Growth

Publisher: Springer International Publishing

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Abstract

The Belle-Époque (1870–1914) was a period of great prosperity for those economies which incorporated steam technology into their national economies. The main way in which steam enhanced progress at that time was through the railways, which allowed the consolidation of an export-led economic growth model.
In this period, Colombia missed a golden opportunity for its economic take-off. Unlike Argentina, Colombia’s real GDP per capita remained stagnant throughout the late nineteenth century. The former country was able to build an extensive railway network, while the latter increased its kilometres of railways very slowly, which determined its poor export growth. Colombia’s incapability to build railways was due to the fact that it could not attract foreign investors, as the government’s lack of commitment in honouring the external debt.

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previous chapter The Particular Colombian Case in Latin America: A Singular Path with the Same Results
next chapter The Take-off, 1914–1929: Coffee, Railways, and Regional Divergence
Footnotes
1
Poor’s Manual of Railways.
 
2
Poor’s Manual of Railways.
 
3
Poor’s Manual of Railways.
 
4
Bureau of Foreign and Domestic Commerce (1924). The Trade Information Bulletin No. 223. Department of Commerce of the United States.
 
5
The number comes from the reports of Colombian Railways Company. Compañia Nacional del Ferrocarril del Norte (1875). Informes sobre el Ferrocarril del Norte. Ministerio de Hacienda y Crédito Público.
 
6
Memoria del Secretario de Hacienda 1875 Nicolas Esguerra (Pages XLVII).
 
Literature
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Department of Commerce of the United States. (1924). Colombia Commerce and Industries 1922 and 1923. The Trade Information Bulletin No. 223, Latin America Division.
Esguerra, N. (1876 [2016]). Memoria del Secretario de Hacienda I Fomento Dirijida al Presidente de la República para el Congreso de 1876. In A. Meisel & M. Ramirez (Eds.), Memorias de Hacienda y del Tesoro. Bogota: Banco de la República.
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Metadata
Title
The Price of the Regeneration: How Colombia Missed the Belle-Époque, 1870–1914
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_2