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The Socio-economic Effects of Oil Royalties in Casanare state, period 2004 – 2015


Although the remarkable oil exploitation has allowed Casanare state to receive significant income as royalties, the socio-economic structure reached in it has not been as expected. Therefore, the purpose of this
document is to demonstrate that the management and administration applied to these resources (represented by the Institutional Quality Index) was not consistent with the socio-economic effects achieved
in this state, during the period 2004-2015. This demonstration, which gave rise, at the same time, to a relationship with the so-called natural resources curse for this region, was defined after analyzing the results
obtained with the estimated linear regressions, through the ordinary least squares method, and its comparisons, with the results of the other highlighted states in oil production, under the criteria of the Ragin’s similarity and difference method.


oil boom, royalty, institutional quality, natural resources curse, social development, economic development

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Author Biography

Andrés Fernando Pava Vargas

Economista de la Universidad Pedagógica y Tecnológica de Colombia (UPTC). Tunja, Colombia.

Alberto Lemos Valencia

Economista de la Pontificia Universidad Javeriana. Bogotá, Colombia. Magister en Economía de la Universidad de Puerto Rico, Recinto de Río Piedras. Profesor Titular de la Escuela de Economía de la Universidad Pedagógica y Tecnológica de Colombia (UPTC).



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