Part I: Colombia at the Turning Point. Colombia: an opening economy? (C. Callahan, F.R. Gunter). Apertura or re-apertura: the return of the golgoats (D. Bushnell). The second stage of apertura (J.A. Ocampo). Part II: Coffee and Oil: The Old Colombia and the New. Continuity and change in the Colombian coffee industry (D. Pizano, R. Junguito). The macroeconomic consequences and policy implications of oil in Colombia (R.G. Murphy). Comments: Fabio Giambiagi. Part III: The Sectoral Impact of Apertura. Impact of trade liberalization on wage structure: evidence from Chile, Costa Rica and Colombia (D.J. Robbins). Employment and income distribution effects of apertura and cusiana: possible policy responses (R.A. Berry, J. Tenjo). Drug use in Colombia and the issues of legalization (A. Perez-Gomez). Crime, poverty and economic growth (A. Montenegro, C. Esteban Posada). Comments on the sectoral impact of apertura (A. Cohen). Part IV: Issues of Policy: Fiscal and Monetary. Monetary and exchange rate policy in Colombia: the experience of 1989-1993 (B.A. Carrasquilla). Decentralization in Colombia: recent changes and main challenges (R. Steiner, P. Correa). Comments (F.R. Gunter). Part V. The Future of Apertura. Patterns of competitiveness in post-apertura Colombia (M. Fairbanks, S. Lindsay). Apertura: comments on its tuture (A. O'Byrne). Regional and extra-regional economic integration alternatives for Colombia (F. Thoumi). Has apertura gone too far or not far enough? (F.R. Gunter). Annotated bibliography of the English language literature on the Colombian economy (S. Burke, J. Yanez). Index.