This paper analyzes the main features and historical factors that played a central role for the industrialization process in Colombia during the twentieth century. The document surveys the legislation and policy instruments used in the programs of import substitution industrialization,...

We study the separation of ownership and control for an average of 140 listed non-financial Corporations in Colombia during the 1996-2002 period. Breaking the sample according to their listing status and economic activity, voting rights are greater than cash flow rights because of the presence...

Economists have shown that investments in science and technology (S&T) have an important impact on country's economic growth and productivity gains. Nowadays there is no doubt of the importance in providing public funding for S&T activities. Public policies have been oriented to provide...

This paper describes the core features of the power sector 1994 regulatory reform and evaluates utility performance and efficiency before and after the reform. The performance analysis assesses the changes in means and medians of a series of profitability, efficiency, investment, sales of the...

Este artículo describe el modelo de regulación de costos con completa información y el modelo de Baron y Myerson de regulación de monopolios naturales con selección adversa dentro de un esquema de principal-agente en su versión discreta de dos tipos. El modelo resalta las distorsiones...

This paper describes the real sector privatization program in Colombia during the nineties and puts that policy in the context of general market deregulation and promotion of private investment in the provision of public infrastructure and domiciliary public services strategy. The paper...

This paper analyses plant entry, total factor productivity growth, average productivity level differentials and turnovers across Colombia's petrochemical industry for the 1974-1998 period. Results show that successful entrants shaped industry productivity and induced plant restructuring among...

We asess evolution in perfomance, efficiency and productivity of Colombia's power distribution utilitiesbefore and after the 1994 regulatory reform that introduced electricity market activities for the power sector in 12 distribution companies from 1985 to 2001. Perfomance is evaluated...

This paper analyses the porcess of regulatory reform in Colombia´s electric supply industry durint the nineties. In order to provide a compehensive view about the reform´s motivations the first part of the essay describes the key features in the development of the power sector, the...

We examine for the first time the association of different measures of ownership and control, and separation ratios with firm’s value and performance for 108 non-financial firms that traded their stock during the period 1998 to 2002. We found that large blockholders exert a positive influence...