– Macroeconomía

Por: Carlos Gustavo Machicado S.   Resumen  Este trabajo analiza el crecimiento económico de largo plazo de Bolivia entre 1950 y 2015, identificando sus causas próximas a través de un ejercicio de contabilidad del crecimiento, que considera los efectos directos e indirectos de la Productividad Total de Factores (PTF) sobre …

Por: Martin Vallejos Tarqui Shirley Navia Cáceres   Resumen: En el presente trabajo se analiza los efectos de la Inversión Extranjera Directa (IED) en el dinamismo macroeconómico de la economía boliviana; para este propósito se utiliza la metodología de Vectores Autoregresivos Estructurales (SVAR, sus siglas en ingles). Los resultados muestran …

Por:  David Zeballos Coria Juan Carlos Heredia Gómez Paola Yujra Tonconi  Resumen El objetivo de la investigación es evaluar el comportamiento de la economía boliviana con base en un modelo de Equilibrio General Dinámico Estocástico, con cambio de Régimen (Markov-Switching DSGE). Empleando un modelo para una pequeña economía abierta, con …

Por: Darwin Ugarte Ontiveros Osmar Bolivar Rosales Resumen El presente documento pretende analizar empíricamente la eficacia de la descentralización en Bolivia, entendida ésta como la capacidad de la administración municipal para cubrir sus necesidades locales. Asimismo, se busca medir las externalidades emergentes de la inversión del gobierno central en obras …

Por: Bernardo X. Fernández Marcelo Gantier Martín Palmero La Paz, Septiembre 2018 Resumen Entre 2006 y 2014, Bolivia experimentó un periodo de bonanza impulsado principalmente por el incremento de los precios internacionales de los commodities. Paradójicamente, durante el mismo periodo las demandas de diferentes grupos sociales se incrementaron y las …

Por: Beatriz Muriel Hernández y Alejandro Herrera J. La Paz, Diciembre 2017 Resumen El presente documento analiza las Cadenas Globales de Valor (CGV) en Bolivia para 2002, 2005 y 2011, utilizando el Índice de Especialización Vertical (EV) de Hummels et al. (2001) y la medida Upstreamness de Antràs y Chor (2011) …

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 …

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 …

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 …

Abstract Using data on Uruguayan adolescents, we estimate peer effects in risk attitudes. Relative risk aversion is elicited in an experimental setting. Identification is based on parents not being able to choose the class within the school of their choice. After controlling for school-grade fixed effect and addressing endogeneity due …

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 …

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 …

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 …

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. …

ABSTRACT: We study economic growth in four emerging economies – Brazil, Russia, India, and China (BRIC). Questions addressed are: (a) How do medium term growth determinants differ from short term determinants? (b) What are differences between growth effects of aggregate versus disaggregated exports? And (c) Does lower institutional quality hinder …

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 …

Literature on convergence among Latin American countries is still scarce compared to other regions. Almost none of the research connects convergence to the economic history of Latin America and the usual finding is one speed of convergence assuming one globally stable steady-state. In this paper I analyze 32 countries and …

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. …

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 …

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 …

ABSTRACT: The global financial crisis (GFC) has had a negative effect on the Bolivian economy. The outbreak of the GFC has caused a drop in export commodity prices such as mining and hydrocarbons, and a reduction in remittances. Bolivia however, was in a relatively good position to deal with the …

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 …

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 …

ABSTRACT: En este documento, se analiza empíricamente, la administración del tipo de cambio con el objetivo de control de inflación del BCB, dada la experiencia de los últimos veinte años. La evidencia presentada muestra que la política cambiaria en Bolivia influye en el control de inflación, así como en la …

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 …

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, …

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 …

ABSTRACT: This paper analyzes the process of reforms and counter-reforms witnessed in Bolivia over the last two and a half decades, and the effects these processes have had on productivity. In addition, the paper discusses the changing nature of the policy- making processes underlying the reform and counter-reform processes, in …

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 …

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 …

ABSTRACT: We investigate a recent political theory of institutional change according to which institutions of economic freedom are more likely to be adopted at the extreme cases of strong and weak political competition than at cases in between. We find that such a U-shaped relationship is verified when controlling for …

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 …

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 …

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 …

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 …

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 …

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 …

ABSTRACT: The reform program and growth pattern exhibited by the Bolivian economy in the last decade did not favour employment creation and consequently not an effective reduction of poverty. During the last decade, those sectors where the bulk of employment is concentrated, presented the lowest growth rates of GDP, labour …

ABSTRACT: El estudio tiene la finalidad de analizar la incidencia del gasto social y del sistema tributario sobre la distribución del ingreso en Bolivia para la gestión 2004. El análisis está basado en la Encuesta Continua de Hogares (ECH), que fue realizada en el periodo noviembre 2003-noviembre 2004. Las variaciones …

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 …

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 …

ABSTRACT: This paper shows how uncertainty about liquidity demand can lead to a high degree of dollarization in the banking system. I study a model where the demand for currency in each period is random, and where it is easier for banks to borrow in local currency in times of …

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 …

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 …

ABSTRACT: Este estudio busca respnder las siguintes interrogantes: ¿Quál es la magnitud y cómo se distribuyen los subsidios que se transfieren a los hogares a través de la provisioón pública de los servicios de educación y salud?; ¿Cuál es la magnitud y cómo se distribuyen los impues a los hogares?; …

ABSTRACT: The paper analyzes the Bolivian experience in switching from an old publicly managed pay-as-you-go pension system to a privately managed, fully funded pension system.  

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 …

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. …

ABSTRACT: This document investigates the effectiveness of foreign aid in Bolivia. When comparing accumulated aid in each sector during the period 1998-2002 with the progress in each sector during the same period, it becomes clear that the four sectors receiving by far the most aid (Institutional strengthening, Rural Development, Roads, …

ABSTRACT: This document investigates the effectiveness of foreign aid in Bolivia. When comparing accumulated aid in each sector during the period 1998-2002 with the progress in each sector during the same period, it becomes clear that the four sectors receiving by far the most aid (Institutional strengthening, Rural Development, Roads, …