Economic development and growth in Colombia: An empirical analysis with super-efficiency DEA and panel data models

Alexander Cotte Poveda

No 9080, Serie de Documentos en Economía y Violencia from Centro de Investigaciones en Violencia, Instituciones y Desarrollo Económico (VIDE)

Abstract: In this paper, we analyse economic development and growth through traditional measures (gross domestic product and human development index) and Data Envelopment Analysis (DEA) in Colombian departments over the period 1993-2007. We use a DEA model to measure and rank economic development and growth from different approaches such as poverty, equality and security. The results show considerable variation in efficiency scores across departments. A second-stage panel data analysis with fixed effects reveals that higher levels of economic activity, quality life, employment and security are associated with a higher efficiency score based on the standards of living, poverty, equality and security. All findings of this analysis should demonstrate that economic development and growth could be achieved most effectively through a decrease in poverty, an increase in equality, a reduction in violence, and improved security. This indicates the need to generate effective policies that guarantee the achievement of these elements in the interest of all members of society.

Keywords: Economic development; Growth; Efficiency; Data envelopment analysis; Colombian departments (search for similar items in EconPapers)
JEL-codes: C14 O18 O49 (search for similar items in EconPapers)
Pages: 12
Date: 2011-10-27
New Economics Papers: this item is included in nep-eff and nep-ure
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Citations: View citations in EconPapers (21)

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Journal Article: Economic development and growth in Colombia: An empirical analysis with super-efficiency DEA and panel data models (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:col:000137:009080

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