­­­COMERCIO Y CRECIMIENTO: UN ANÁLISIS COMPARATIVO DELOS EFECTOS DEL COMERCIO INTERNACIONAL EN ELCRECIMIENTO ECONÓMICO PARA COLOMBIA Y ESPAÑA(1990-2022)

Abstract

The study set out to analyze the impact of international trade on the economic growth of Colombia and Spain during the period 1990-2022, in order to understand the relationship between commercial exchange and the economic development of both countries. To achieve this objective, a methodological approach was used based on non-experimental transactional research, which made it possible to describe variables and analyze their incidence and interrelation at a given time. In addition, the panel data method was used, which allowed controlling for unobservable characteristics of each country, and econometric tests were carried out to confirm the stationarity of the series, the existence of cointegration and the absence of specification problems in the model. used. In theoretical terms, the study was based on Porter's theory of comparative advantage, which highlights the importance of knowledge, technology and innovation in the search for global competitiveness. Likewise, the types of correlative and explanatory research were considered to measure the impact of international trade on economic growth, as well as to evaluate the effects of trade openness, trade volume and foreign direct investment. The results obtained revealed that international trade has had a positive effect on the growth of GDP per capita in both countries, supporting the role of foreign trade as an engine of growth. In addition, significant fluctuations in trade volume were observed throughout the period, reflecting the influence of current factors on the trade relationship. Regarding trade openness, a decreasing trend was identified in recent years for Colombia, while Spain has maintained a stable openness. Regarding foreign investment flows, growth was observed in both directions, with greater dynamism from Spain to Colombia. However, foreign direct investment did not show a significant effect on economic growth. In conclusion, the importance of international trade as a driver of economic growth is highlighted, as well as the need to consider other theoretical approaches that complement the base neoclassical model. Furthermore, the relevance of each country's trade strategies is highlighted in the context of trade openness and foreign investment flows, which suggests the existence of significant differences between Colombia and Spain in this aspect.