Looking at the years 1870-2016, this book analyses the reasons behind Colombia’s chronically slow economic growth. As a comparative economic history, it examines why Colombia has seen lower growth rates than countries with similar institutions, culture and colonial origins, such as Argentina in 1870-1914, Mexico in 1930-1980, and Chile from 1982 onwards. While Colombia's history has shown relative macroeconomic stability, it has also shown a limited capacity for integrating into the world economy and embracing technological breakthroughs compared to the rest of the world, including steam, mass production and Information Technology. This volume thus moves away from the long-held view that institutional path dependence is the main determinant of differences in long-run economic growth across countries.

Between 1850 and 1930 the local economies of several major primary-producing countries in Latin America became increasingly dependent on foreign trade. Professor McGreevey examines the relations between the external sector and the domestic economy by analysing the history of economic development in Colombia in this period. Part I traces the development of the economy from the period of exploitation under Spanish rule until 1845. In Part II the author makes an overall assessment of the movement of per capita product between 1845 and 1885. In order to assess the impact of trade on Colombian economic development Professor McGreevey has assembled a new and more reliable set of estimates of Colombian foreign trade between 1845 and 1930. He pays particular attention to the reasons for economic decline in the latter half of the nineteenth century. Part III examines the economic development of Colombia between 1890 and 1930 from a subsistence economy with little specialisation and exchange to a market-oriented agricultural economy with greater division of labour and a more extensive trade network. Professor McGreevey analyses the spectacular development of the Antioqueno region and the way in which coffee cultivation and transport improvements facilitated regional and national economic transformation.

Ever since the quest for independence between 1810 and 1819, economic thought in Colombia has been shaped by policy debates and characterized by a pragmatic and eclectic approach. Economic thought in Colombia can only be revealed through the exploration of economists’ practices and the role of economic arguments within broader public debate. This history of Colombian economic thought provides a detailed account of major issues that have marked the constant feedback between economic ideas and economic practice in Colombia during the 19th and 20th centuries. This volume is thus a history of the interaction between ideas and policy. Those involved in these debates – politicians, public officials, journalists, and, latterly, professional economists – established direct contact with what can be identified as the centers of production of economic theory (both in Europe and the US) and entered regional and local networks in economics, but were not just importers of ideas or theories. The way in which they read, discussed, transformed and applied economic theories in Colombia makes for a rich environment for the production and implementation of economic policies that drew, diverged and transformed the way economics was understood and used as a source of knowledge for practical concerns. This is why the history of Colombian economic thought does not fit into traditional typologies of economic schools and why it must be understood as part of a political debate and within a political, social and cultural context that demanded specific solutions to urgent social demands. Through the study of what was taught, when and how, at the beginnings of the republican era, and why and how professional economists came to lead public debate and economic policy making in the 20th century, this book explores the foundations of this permanent interaction between theory and practice. This book will be of significant interest to readers of history of economic thought, economic history and the history of Colombian and Latin American economic, political and social life more broadly.

This book describes and analyzes economic and political developments in Colombia during the final century of Spanish rule. Its purpose is threefold: first, to provide a general portrait of Colombian society during the late colonial period, showing the character of economic, social, and political life in the territory's principal regions; second, to assess the impact on the region of European imperialist expansion during the eighteenth century; and third, to provide a context for understanding the causes of independence. The book offers the only available survey of Colombian history and historiography for this period.

This is the first English-language history of Colombia as a coffee-producer.