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– Macroeconomía

Globalization, Peace & Stability, Governance, and Knowledge Economy

ABSTRACT A previous analysis of the impact of formal institutions on the knowledge economy of 22 Middle-Eastern and Sub-Sahara African countries during the 1996-2010 time period concluded that formal institutions were necessary, but inadequate, determinants of the knowledge economy. To extend that study, this paper claims that globalization induces peace …

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The Impact of Formal Institutions on Knowledge Economy

ABSTRACT: Using Kauffman, Kraay, and Mastruzzi governance indicators, this article analyzes the impact of formal institutions on the knowledge economy- by assessing how the enforcement of Intellectual Property Rights (IPRs) through good governance mechanisms affects the knowledge economy. The article also employs the World Bank’s four components of the knowledge …

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Does Licensing Induce Technological Spillovers to Domestic Firms?

Abstract Productivity differences can explain differences in economic growth across countries. It has been demonstrated that the presence of a foreign-owned multinational enterprise (MNE) in a developing country is one of the most important methods through which technology transfer occurs. This presence could be in the form of foreign direct …

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Fighting software piracy: Which governance tools matter in Africa?

Abstract: This article integrates previously missing components of government quality into the governance-piracy nexus in exploring governance mechanisms by which global obligations for the treatment of IPRs are effectively transmitted from international to the national level in the battle against piracy. It assesses the best governance tools in the fight …

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News, Noise, and Fluctuations: An Empirical Exploration

Abstract: We explore empirically models of aggregate fluctuations with two basic ingredients: agents form anticipations about the future based on noisy sources of information and these anticipations affect spending and output in the short run. Our objective is to separate fluctuations due to actual changes in fundamentals (news) from those due to temporary errors …

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Productivity, Structural Change, and Latin American Development

ABSTRACT: We calibrate a simple neoclassical model of structural transformation to a set of Latin American countries and show that slow growth in agricultural productivity can substantially delay the development process and result in signicant dierences in per capita incomes. Some of our results indicate that low agricultural productivity delayed …

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Foreign Aid – A Fillip for Development or a Fuel for Corruption?

ABSTRACT: We present an analysis of the effects of foreign aid on economic development when the quality of governance may be compromised by corruption. The analysis is based on a dynamic general equilibrium model in which growth is driven by capital accumulation and public policy is administered by government-appointed bureaucrats. …

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Bolivian Sub-National Revenues: a Review

ABSTRACT: This papers reviews main topics concerning sub-national revenues (intergovernmental transfers and taxes) and discusses some policy options to develop own sub-national revenues. The review covers the political-legal framework and the fiscal outcomes, finding that: i) intergovernmental transfers policies have expanded over time, generating inequity problems, principally at the departmental …

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Inflationary memory as restrictive factor of the impact of the public expense in the economic growth: lessons from high inflation Latin American countries using an innovative inflationary memory indicator

ABSTRACT: A new inflationary memory indicator was developed and applied here. A panel was built with the selected countries considering the economic growth as dependent variable in function of the convergence hypothesis, the inflation rate, the public expense and, the recursive variance of the inflation (VARINF) as inflationary memory indicator. …

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Effects of the Global Financial and Economic Crisis on the Bolivian Economy: A CGE Approach

ABSTRACT: This paper analyses the impact of the Global Financial Crisis on the Bolivian economy. The PEP 1-1 Standard Model has been employed to analyze the effects of a reduction in (i) the world export prices of mining and agriculture, (ii) the world demand of textiles, and (iii) transfers to …

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Public Expenditure Policy in Bolivia: Growth and Welfare

ABSTRACT: It has been widely documented that fiscal policy can promote economic growth, when it is based on an efficient provision of pubic capital. But little work has been done, in Bolivia, in relation to the macroeconomic and sectoral impacts of increasing public investment in infrastructure. This paper develops a …

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Gun control and suicide: The impact of state firearm regulations, 1995–2004

ABSTRACT: Suicide is a major cause of preventable death. Restricting access to lethal means has been identified as an effective approach to suicide prevention, and firearms regulations are one way to reduce gun availability. This study examines the relationship between state firearms regulations and suicide among males, using negative binomial …

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La Economía Boliviana en el Siglo XXI: Un escenario base elaborado con la ayuda de un Modelo de Equilibrio General Computable (BOLIXXI)

ABSTRACT: El presente documento describe la construcción del escenario macroeconómico base para la economía boliviana, como parte del proyecto ERECC-Bolivia, que tiene como objetivo evaluar los efectos económicos del cambio climático esperado hasta 2100 de acuerdo con los escenarios A2 y B2 del modelo climático PRECIS desarrollado por el Hadley …

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Understanding Productivity Levels, Dispersion and Growth in the Leather Shoe Industry: Effects of Size and Informality

ABSTRACT: In this case study performed on the industrial sub-sector of manufacture of leather shoes in Bolivia, we use the Hsieh and Klenow model (2008) to determine the differences between productivity of larger and formal companies and productivity of smaller and informal companies. Our results reveal that there are not …

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Technological Progress and Productivity in the Quinoa Sector

ABSTRACT: The main objective of this case study is to analyze the effect that a significant technological innovation in quinoa processing has had on the productivity of companies devoted to this activity and the impact of such an innovation on the growth and organization of the quinoa cluster in Bolivia, …

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Misallocation and Manufacturing TFP in the Market Liberalization Period of Bolivia

ABSTRACT: This paper analyzes productivity levels, dispersion and growth in the Bolivian Manufacturing Sector during the Market Liberalization Period: 1988-2001. These years are characterized first, by a period of macroeconomic stabilization and 1st Generation Reforms (1988-1993), second, by a period of privatization and 2nd Generation Reforms (1994-1997) and third, by …

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Global Financial Crisis: Effects on Bolivia

ABSTRACT: The global financial crisis is expected to have a negative impact on the Bolivian economy. Effects will transmit into the economy through lower export prices and quantities, reduced amount of remittances and depressed foreign direct investment (FDI) flows. These shocks will bring about deficits in the current account and …

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The Chilean agricultural transformation during the second half of the twentieth century: A story of institutional change

ABSTRACT: The second half of the twentieth century witnessed a dramatic transformation of the Chilean agricultural sector. From accounting for only five percent of the value of Chile’s total exports in the late 1960s, agricultural exports grew to account for more than 30 percent of this value in the mid …

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Financial Liberalisation, Bureaucratic Corruption and Economic Development

ABSTRACT: We study the effect of international financial integration on economic development when the quality of governance may be compromised by corruption. Our analysis is based on a dynamic general equilibrium model of a small economy in which growth is driven by capital accumulation and public policy is administered by …

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¿Es Importante la Fijación de Precios para Entender la Dinámica de la Inflación en Bolivia?

ABSTRACT: El presente trabajo estudia la dinámica de la inflación en Bolivia usando la Curva de Phillips Híbrida Nueva Keynesiana (HNKPC), incorporando características del país como: grado de dolarización debido a la influencia de este sobre las expectativas de los agentes, determinados conflictos sociales y políticas de gobierno que afectaron …

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Macroeconomic and Welfare Effects of Public Infrastructure Investment in Five Latin American Countries

ABSTRACT: It has been widely documented that investment in infrastructure is important for economic growth, but little work has been done in relation to the impact of infrastructure investment on other macroeconomic variables. This paper develops a Dynamic Stochastic General Equilibrium (DSGE) model of a small open economy to study …

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Theory, History and Evidence of Economic Convergence in Latin America

ABSTRACT: Economic convergence exists when two or more economies tend to reach a similar level of development and wealth. The study of convergence is an important topic because besides being useful for the debate between different theories, it can respond several inquiries such as if the distribution of income between …

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Growth and Banking Structure in a Partially Dollarized Economy

ABSTRACT: This article illustrates how the industrial organization of a banking system affects economic growth in a partially dollarized economy. I study a model where banking competition has some potentially good and some potentially bad effects for growth. I analyze how important they are quatitatively and, surprisingly, they do not …

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¿Qué hace la Diferencia para el Logro de una Mayor Productividad Laboral? Caso de los Países de Bajos Ingresos en América Latina

ABSTRACT: El presente estudio analiza la hipótesis según la cual, las condiciones empresariales externas adversas a las que deben hacer frente las compañías en los países pobres de América Latina, podrían constituir una importante explicación de los generalmente bajos niveles de productividad de estos países. Sin embargo, resultados empíricos basados …

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How Best to Use the Extraordinary Hydrocarbon Revenues in Bolivia: Results from a Computable General Equilibrium Model

ABSTRACT: The high oil prices and the sharp increases in royalties mean that the natural gas boom in Bolivia has become very important for the economy, and particularly important as a source of government revenues. Using a CGE model, Andersen et al (2006) show that the natural gas boom is …

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Welfare Gains from Optimal Policy in a Partially Dollarized Economy

ABSTRACT: This paper evaluates welfare under optimal monetary and fiscal policy in a dynamic stochastic model of currency substitution and capital. It shows that in a partially dollarized economy, the main optimal policy results, i.e. the Friedman Rule and the zero capital tax, hold. Welfare implications of these optimal policies …

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To aid or not to aid: Foreign aid and productivity in cross-country regressions.

ABSTRACT: The paper reexamines empirically the robustness of competing theories of foreign aid effectiveness. By shifting the focus from the effects of aid on income to effects of aid on productivity, it is possible to put to test 3 existing theories of foreign aid effectiveness. The results provide support for …

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The Impact of Aid on Recipient Behavior: A Micro-Level Dynamic Analysis of Remittances, Schooling, Work, Consumption, Investment and Social Mobility in Nicaragua.

ABSTRACT: Remittances are a very important source of income for many Nicaraguan families. More than 40% of all households receive remittances that on average amount to 12-15% of total household income in these households. More than 30% of these households receive remittances at least monthly, implying that it is a …

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Trade, FDI, Growth and Poverty in Bolivia

ABSTRACT: After several decades of “state-capitalism” characterized by import substitution policies, Bolivia implemented in 1985 a New Economic Policy (NEP) following neo-liberal ideas of free trade, privatization, and liberalization of capital flows. It was hoped that the opening up of the economy would attract foreign direct investment (FDI) which in …

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Macroeconomic Policies to Increase Social Mobility and Growth in Bolivia

ABSTRACT: Poverty in Bolivia continues to be among the highest in Latin America despite decades of concerted national and international efforts to reduce it. Bolivia has meticulously followed the recommendations of the Washington consensus at the same time as external aid has been generous and foreign direct investment has boomed. …

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