The costs of resource-led development. An analysis of the economic impact of the oil extraction boom in Colombia ; Koszty rozwoju opartego na surowcach naturalnych. Analiza gospodarczych konsekwencji boomu w wydobyciu ropy naftowej w Kolumbii

Oil-rich countries often face negative consequences of natural resources-led development on their overall economic performance. One of the reasons is that a country’s rising extraction rates frequently lead to various changes in its public policy and revenue management. Colombia has spectacularly increased its oil production by almost 500,000 barrels per day (bpd) in ten years, which was the effect principally of the implementation of strongly market-oriented petroleum policies in 2003. It is now the fourth largest crude producer in Latin America, registering nearly ten times more export sales... Mehr ...