Introduction

Comparative studies of Latin American political economy often treat Colombia as an enigma or ignore it completely. In a region marked by political upheaval, Colombia plods quietly along without major military coups in the twentieth century, boasting a rather stable two-party system and the region's longest enduring constitution (1886–1991). In a region known for economic booms and busts, sharp fluctuations and hyperinflation, Colombia has generally enjoyed slow but steady growth and has long commanded an excellent credit rating for its debt repayment record. The country has been most often associated with its role in the illegal narcotics trade and the longest and largest guerrilla war on the continent, so studies of Colombia have often focused on the negative. Colombia's, major political problems are tempered with profound achievements, however. The fact that Colombia was one of the earliest countries in the region to adopt decentralization and one of the most diligent in extending it stands out as a true accomplishment.