This Working Paper analyzes the institutions that shape public-private collaboration for the design and implementation of productive development policies in Colombia. These policies are increasingly designed in the context of formal institutions and venues, with public-private collaboration...

This study analyzes the institutions that shape public private collaboration for the design and implementation of productive development policies in Colombia. Colombia is an interesting case because productive development policies are increasingly designed, in principle, in the context of formal...

The focus of this research is to learn about the factors that influence the decision of a manufacturing firm to vertically integrate into the production of its input. The American paper industry has a feature that makes it particularly suitable for this purpose: over the years paper mills of...

This paper analyzes the effects on Colombian manufacturing productivity of tax and foreign trade policy changes during the 1990s. Our results indicate that between 1977 and 1999, aggregate manufacturing productivity largely stagnates and even declines in some of the larger industries. There is...

Este artículo estudia las decisiones de política monetaria en un ambiente en que: 1) tales decisiones están en manos de una junta, en lugar de un banquero central individual; y 2) los banqueros centrales son designados por el gobierno. En el modelo, cada banquero central tiene en cuenta el...

Theoretical models of the political budget cycle suggest that electoral manipulation of government expenditures can take the form of changes in the composition of spending, without impacting the overall budget or the deficit, and that the form and extent of this manipulation depend on the fiscal...

The literature has come to no agreement about the empirical validity of the so-called weak government hypothesis. According to this hypothesis, political fragmentation should lead to higher government expenditure. With the aim of reconciling the empirical evidence with theory, in this paper we...

Using a rich dataset of Colombian manufacturing establishments between 1995 and 2004, we illustrate potential scarring effects of recessions operating through credit constraints. In contrast with the view that recessions are times of cleansing, we find that financially constrained businesses...