Institutions under Lleras: power for development

Abstract

Using theoretical approaches such as North on institutions and Coase on transaction
costs are discussed reforms under President Carlos Lleras Restrepo (1966-1970).
Specifically we study the Constitutional Reform of 1968 and Decree 444 of 1967 as
the fundamental changes that would boost the development, by reducing transaction costs involved in the presidential and interventionism, framing these institutions in what is known as state capitalism. Similarly, specify the consensus that managed to achieve the reforms and becomes an approximation to a government balance sheet. The document is a result of the author’s doctoral thesis “Economic aspects of the government of Carlos Lleras Restrepo”.