The Effect of Royalties on Political Competition, and Electoral Corruption in the Local Elections of Colombia in 2011 and 2015

In the last three decades Colombia has experienced a change in its model of economic development from an economy based on agriculture and manufactur-ing to a predominant mining extractive industry. This paper analysed the effect of the rents from the extraction of on renewable Natural resources in electoral corruption and political competition, through the analysis of the reform to the royalty system of payments introduced in the country in 2011. To do so, the paper uses an econometric approach of fixed effect and pool OLS models to a data set of 1101 municipalities of the country in the last two electoral elections of mayors in 2011 and 2015.