Description: Colombia : Systematic Country Diagnostic

Colombia : Systematic Country Diagnostic

Colombia has made impressive strides in reducing poverty and promoting shared prosperity during the last decade. Extreme poverty fell from 17.7 percent in 2002 to 8.1 percent in 2014, while total poverty (including moderate poverty) fell from 49.7...

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Bibliographic Details
Main Author:	World Bank Group
Language:	English en_US
Published:	World Bank, Washington, DC 2015
Subjects:	TARIFFS SOCIAL COSTS CAPITAL MARKETS UNEMPLOYMENT RATES GOVERNMENT EXPENDITURES ECONOMIC GROWTH RENEWABLE RESOURCES CARBON DIOXIDE ENVIRONMENTAL DEGRADATION FOSSIL FUELS AIR QUALITY WASTE MANAGEMENT PERVERSE INCENTIVES CARBON REFRIGERATION AGRICULTURAL PRODUCTION EXPECTATIONS MARGINAL COST PRODUCERS RESOURCE MANAGEMENT PROPERTY RIGHTS ENVIRONMENTAL COSTS FINANCIAL RESOURCES TIMBER RESOURCE ALLOCATION LABOR FORCE EMISSIONS REVENUES ENVIRONMENTAL ISSUES ENVIRONMENTAL REGULATIONS DIMINISHING RETURNS INCENTIVES CARBON DIOXIDE EMISSIONS EQUILIBRIUM PRODUCTIVE RESOURCES ASYMMETRIC INFORMATION MODELS REAL WAGES SUSTAINABLE DEVELOPMENT DEVELOPED COUNTRIES WILLINGNESS TO PAY EFFICIENCY WAGES PRICE FIXING ECONOMIC ACTIVITY ECONOMIC DYNAMICS OIL PRICES CLIMATIC CONDITIONS EXPLOITATION ARABLE LAND LABOR COSTS OIL AIR POLLUTION TRADEOFFS CARCINOGENS GOVERNMENT REGULATIONS NATURAL CAPITAL POPULATION GROWTH CAPITAL FORMATION ENVIRONMENTAL SCIENCES OPTIONS LABOR PRODUCTIVITY POLLUTION LEVELS QUOTAS DEBT BARRIERS TO ENTRY SUSTAINABLE FORESTRY ALLOCATIVE EFFICIENCY LAND DEGRADATION POLLUTION FORESTRY BENEFIT ANALYSIS ECONOMIC POLICIES AQUIFERS DIVIDENDS URBAN AIR POLLUTION BARLEY NATURAL RESOURCES METALS SUBSIDIES EFFICIENCY FISHING GREENHOUSE GASES TAXES TAX REFORMS LAND USE EFFECTIVE USE RESOURCES UNEMPLOYMENT ENERGY CONSUMPTION EQUITY PRODUCTIVITY GROWTH CONSUMPTION ECONOMIC IMPACT WAGES CLIMATE CHANGE ENVIRONMENTAL MANAGEMENT VALUES ECONOMIC VALUE POLICY MAKERS CREDIT QUALITY STANDARDS PURCHASING POWER DEFORESTATION DEMAND CPI MINES NATIONAL INCOME SUSTAINABLE GROWTH PUBLIC EXPENDITURES EXPENDITURES WORKING POOR PROPERTY ENVIRONMENTAL INFORMATION LOGGING DECISION MAKING TAX RATES ENVIRONMENTAL PERFORMANCE TRANSACTION COSTS ENVIRONMENT ECONOMICS TERMS OF TRADE SECURITIES WASTE DISPOSAL TAX REVENUE ECONOMIC FACTORS ECONOMIC DEVELOPMENT TRADE LAND TRANSFER PAYMENTS DRINKING WATER TRADE TAXES HEALTH PROBLEMS COMMERCIAL BANKS COMPARATIVE ADVANTAGE PUBLIC PARTICIPATION ECONOMIC   GROWTH COAL FARMS POPULATION PRESSURES ECOLOGY WATER POLLUTION WAGE DIFFERENTIALS REVENUE EMPIRICAL EVIDENCE PRIVATE CONSUMPTION RISK MANAGEMENT ECOSYSTEM HEALTH ECONOMISTS TAX REFORM PASTURES AVERAGE PRODUCTIVITY INTERMEDIATE INPUTS PROFITS ENVIRONMENTAL LABOR MARKETS WETLANDS PRICES DEMOGRAPHICS OIL SECTOR PRODUCTION COSTS ECONOMIC CONDITIONS ECONOMIES PUBLIC GOODS COMPETITION
Online Access:	http://documents.worldbank.org/curated/en/2015/07/24742430/colombia-systematic-country-diagnostic http://hdl.handle.net/10986/23111

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Summary:	Colombia has made impressive strides in reducing poverty and promoting shared prosperity during the last decade. Extreme poverty fell from 17.7 percent in 2002 to 8.1 percent in 2014, while total poverty (including moderate poverty) fell from 49.7 percent in 2002 to 29.5 percent in 2014. The decline implies that 6.2 million people left poverty in the period. The multidimensional poverty rate, which takes into account education, health, labor, childcare, and housing, has also experienced a remarkable decline from 49 percent in 2003 to 21.9 percent in 2014. The number of multidimensional poor declined by 9.8 million. Shared prosperity indicators followed a similar trend, especially after the second half of the decade. Between 2008 and 2013, the income per capita of the bottom 40 percent of Colombians grew at an average rate of 6.6 percent, significantly higher than the national average rate of 4.1 percent for the same period. Economic growth that led to job creation has been the main driver of poverty reduction and shared prosperity gains. The economy sustained an average GDP growth of 4.4 percent during the 2000s, almost 2 percentage points higher than the previous decade. For the period 2002-2013, economic growth explains 73 percent of the reduction in extreme poverty and 84 percent of the reduction in total poverty. Moreover, price stability, and in particular stable food prices contribute to poverty outcomes. As in the case of poverty reduction, labor income growth is the main determinant of shared prosperity in recent years in Colombia. Labor income represents at least fifty percent of income growth for the poorest 10 percent of the population, and up to 70 percent for those in the fourth decile, in the period 2008-2013. This evidence highlights the importance of high growth and low inflation for achieving the World Bank’s twin goals in Colombia.

Colombia : Systematic Country Diagnostic

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