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OECD Territorial Reviews: Colombia 2014

image of OECD Territorial Reviews: Colombia 2014

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.

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The challenge of industrial diversification in Colombia

This chapter assesses Colombia’s industrial policy and its implications for regional development. It is divided into three main sections. The first focuses on Colombia’s macroeconomic trends and structural policies in the context of economic diversification, taking stock of prior efforts. The second section describes the role of regions and geography in the diversification strategy. A number of issues important for regional development are explored, including cities, inequality and multi-level governance. Section three describes Colombia’s industrial policy and the current diversification strategy, taking into account the role of different types of regions. The chapter concludes with a number of recommendations for national authorities with respect to the current strategy of industrial diversification.

English

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