Colombian Liberalization and Integration into World Trade Markets: Much Ado about Nothing

DOI:  https://doi.org/10.12804/revistas.urosario.edu.co/economia/a.12834

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Published: Jan 12, 2023
Issue: Vol. 25 No. 2 (2022)
Section Articles


Keywords: Colombia Foreign trade; Centrality Network analysis World trade network

Main Article Content

Authors

Fredy Cepeda-López
Banco de la República (Colombia)
Fredy Gamboa-Estrada
Banco de la República (Colombia)
Carlos León-Rincón
Banco de la República (Colombia)
Hernán Rincón-Castro
Banco de la República (Colombia)

Abstract

The objective of this article is to study the evolution of Colombian liberalization and integration into world trade from 1996 to 2018. We achieved our objective by measuring Colombia’s importance in the world trade network through the employment of several types of network centrality metrics and the examination of their dynamics against a set of regional peers. We were able to conclude that Colombia’s centrality in the world trade network did not improve, whereas that of some of her regional peers did manifestly. Results highlighted the perils of analyzing a country’s trade dynamics in isolation and emphasized the usefulness of examining the world trade network.

Author Biographies

Fredy Cepeda-López, Banco de la República (Colombia)

Researcher, Financial Infrastructure Oversight Department.

Fredy Gamboa-Estrada, Banco de la República (Colombia)

Researcher, Monetary and International Investment Division.

Carlos León-Rincón, Banco de la República (Colombia)

Director, Financial Market Infrastructures & Digital Currencies Solutions, Financial Networks Analytics.

Hernán Rincón-Castro, Banco de la República (Colombia)

Senior Researcher, Research Unit, Banco de la República.

How to Cite
Cepeda-López, F., Gamboa-Estrada, F., León-Rincón, C., & Rincón-Castro, H. (2023). Colombian Liberalization and Integration into World Trade Markets: Much Ado about Nothing. Revista Economía Del Rosario, 25(2), 1–44. https://doi.org/10.12804/revistas.urosario.edu.co/economia/a.12834
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