consequences of a major shift in the production of coca paste from Peru and Bolivia to Colombia, where most coca leaf is now … Colombia, provided an exogenous boost in the demand for Colombian coca leaf. Our analysis shows this shift generated economic …Natural and agricultural resources for which there is a substantial black market, such as coca, opium, and diamonds …

, inflation, and the real exchange rate in a developing country is developed. The model is then tested using data for Colombia. A … number of experts have argued that the fluctuations of Colombia's real exchange rate have been mainly determined by world … indicate that in Colombia, the real appreciation resulting from coffee price increases has been accommodated, partially by …