Abstract

OUIJANO-SALAMANCA, Wilson  and  GUEVARA-CASTANEDA, Diego Alejandro. Deindustrialization: Evidence from a Kaldorian Perspective for Colombia (2005-2017). Ens. Econ. [online]. 2021, vol.31, n.58, pp.13-35.  Epub July 16, 2021. ISSN 0121-117X.  https://doi.org/10.15446/ede.v31n58.88693.

This article presents the results given by the calculations made using Kaldor's growth model for the search of evidence of deindustrialization in the Colombian economy in the period that spans 2005-2017. This econometric exercise shows the role of the manufacturing industry as a motor for growth. The methodology uses modelling in two panels: the first, a balanced type with data added for 23 metropolitan areas; the second, a balanced type adding data from a company level, with a sample obtained from the Encuesta Anual Manufacturera (EAM) - Annual Manufacturing Survey for said period. Based on the results of multiple calculations, it is found and reaffirmed that the weakening of the manufacturing sector is evidenced in decline sustained by the percentage of participation that it has in total employment and GDP, and the harmful link between the dynamics of manufacturing employment and growth of the product. The evidence of deindustrialization identified allows a conclusion that the contribution of manufacturing to economic growth is based on static economies of scale.

JEL: B50; E12; L60; O47.

Keywords : deindustrialization; Kaldor; increasing yields; manufacturing; economic growth; Kaldor-Verdoorn Law.

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