Subject category:
Economics, Politics and Business Environment
Published by:
Harvard Business Publishing
Version: 30 July 2015
Revision date: 5-Nov-2015
Length: 30 pages
Data source: Field research
Abstract
Colombia, the fastest growing country in Latin America, continues to struggle with productivity. Both labor productivity and total factor productivity have been low for the past decade, despite economic growth of 4.7% annually. Many factors contribute - everything from infrastructure, to banking, to informality. President Santos, one year into his second term, is well aware of these difficulties and has put in place new policies to mitigate them. His focus, however, is on peace negotiations with the FARC - a possible settlement of the 50-year struggle which itself would significantly impact productivity.
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Abstract
Colombia, the fastest growing country in Latin America, continues to struggle with productivity. Both labor productivity and total factor productivity have been low for the past decade, despite economic growth of 4.7% annually. Many factors contribute - everything from infrastructure, to banking, to informality. President Santos, one year into his second term, is well aware of these difficulties and has put in place new policies to mitigate them. His focus, however, is on peace negotiations with the FARC - a possible settlement of the 50-year struggle which itself would significantly impact productivity.
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