External dependence of Colombia as a resource-rich economy, an analysis from 2000 to 2021
DOI:
https://doi.org/10.18041/1900-0642/criteriolibre.2025v23n42.11835Keywords:
Investment in machinery and equipment, technological dependence, imports, capital goodsAbstract
This article presents evidence of the external constraints faced by Colombia as a developing economy, focusing on the behavior of investment, net exports, and the exchange rate from 2000-2021. Stylized facts of the Colombian economy and economic theory are used to present an outlook of its external dependence. The analysis reveals that the export of primary goods is significantly influenced by international prices, while increases in investment raise imports and expert pressure on the exchange rate. These findings enhance our understanding of Colombia's foreign exchange constraints and its technological reliance in the twenty-first century.
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