The Colombian economy has done remarkably well over the last decade, consistently ranking among the fastest-growing countries in Latin America, but a comprehensive tax reform that promotes investment and diversifies the economy is now needed to put the country on a path toward stronger, sustainable and inclusive growth, according to the latest OECD Economic Survey of Colombia.
n el último Estudio Económico de Colombia de la OCDE, que se publicará el lunes 19 de enero del 2015, se analiza el desempeño del país durante la última década en materia de crecimiento y reducción de la pobreza, impulsado por el boom del petróleo y la minería y la solidez del marco monetario, fiscal y financiero.
These reviews offer a comprehensive assessment of the innovation system of individual OECD member and non-member countries, focusing on the role of government. They provide concrete recommendations on how to improve policies which impact on innovation performance.
Regional development policy is a priority of Colombia’s government. The country has experienced sustained economic growth over the past decade; yet several territories still lack development opportunities. To promote growth in all regions the government has engaged in a series of reforms. For instance, it started allocating royalty payments generated by hydrocarbon resources to all departments and most municipalities, including those that are not endowed with natural resources. The reform also promotes better multilevel governance and represents a good policy practice for countries seeking to link natural resource development with regional development.
To support the current efforts of Colombia’s government, this report illustrates policy recommendations to help national authorities adopting a territorial approach to inclusive economic development. In particular, the OECD recommends to: a) improve the quantity and quality of regional statistics and formulate urban and rural taxonomies that help tailor policies to places; b) involve territorial constituencies in the design of policy interventions and allocate to them more implementation responsibilities within the framework of the National Development Plan; c) promote coordination among subnational bodies to scale up investment in territories to avoid that public investment – and royalty payments – gets dispersed in a myriad of small-scale projects.
"Since first taking office in 2010, President Santos has drawn on his considerable experience, both as an economist and as a former Finance and Foreign Trade Minister, to lead his country through a series of ambitious reforms and in advancing Colombia on the path to peace, prosperity and membership of the OECD. The Colombian people saw fit to reward his efforts in 2014 with a well-deserved re-election."
Mr. Angel Gurría, Secretary-General of the OECD, will host at the OECD Mr. Juan Manuel Santos, President of Colombia, on 7 November 2014.
English, PDF, 638kb
In Colombia, 42% of 25-64 year-old attained at least upper secondary education, a much smaller proportion than the OECD average of 75%. Only China, Indonesia, Mexico, Portugal and Turkey have smaller proportions (varying from 22% in China to 38% in Portugal).
Spanish, PDF, 733kb
En Colombia, el 42% de la población de 25 a 64 años tiene como mínimo educación media superior; una proporción mucho menor que el promedio de la OCDE de 75%. Sólo China, Indonesia, México, Portugal y Turquía tienen porcentajes más bajos (que van del 22% en China al 38% en Portugal.
This review offers a comprehensive assessment of the innovation system of Colombia, focusing on the role of government. It provides concrete recommendations on how to improve policies that affect innovation performance, including R&D policies and identifies good practices from which other countries can learn.
The Overall assessment and recommendations is also available in French and Spanish.
These country notes contain indicators which compare the political and institutional frameworks of national governments as well as revenues and expenditures, employment, and compensation.