The regional analysis of Colombia and curse of natural resources: The late institutional changes

To verify the presence of the curse of natural resources (NR), and its regional effects in Colombia, this article is structured as follows: (i) Introduction; (ii) Framework; (iii) Analysis of the economic structures of the regions; (iv) Institutional context analysis; and v) conclusions. The literature review addressing the growing concern about the role of NR in the dynamic and economic structure, under names such as Dutch Disease (DD) or NR curse. Data analysis between the years 2000-2013, shows that in Colombia, DD existed based on the oil boom. DD has differentiated regional effects, although atypical effects in the region with NR boom: Orinoco. After an institutional analysis, it is concluded that the existence of DD will have long-term harmful effects in terms of growth, due to the collapse of oil prices.