| Summary/Abstract |
This article addresses the relationship between the Revolutionary Armed Forces of Colombia (FARC) and the cocaine trade in Colombia, and implications for the FARC's complete demobilization under the 2016 peace agreement. The article identifies two phases of FARC interaction with drug markets. During the regulation phase (1982–1991), the FARC regulated the coca economy and charged protection rents. During vertical integration (1991–present), the FARC directly participated in drug markets. Contrary to conventional approaches, the article adopts the concept of the security dilemma to argue that FARC integration in drug markets was a strategic response to threats from paramilitaries and narcotics traffickers.
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