{"id":13520,"date":"2020-09-28T14:25:17","date_gmt":"2020-09-28T18:25:17","guid":{"rendered":"https:\/\/www.inesad.edu.bo\/2020\/09\/28\/el-rol-de-la-inversion-publica-el-caso-de-bolivia\/"},"modified":"2020-09-28T14:25:17","modified_gmt":"2020-09-28T18:25:17","slug":"el-rol-de-la-inversion-publica-el-caso-de-bolivia","status":"publish","type":"post","link":"https:\/\/www.inesad.edu.bo\/en\/2020\/09\/28\/el-rol-de-la-inversion-publica-el-caso-de-bolivia\/","title":{"rendered":"El Rol de la Inversi\u00f3n P\u00fablica: El Caso de Bolivia"},"content":{"rendered":"<section class=\"wpb-content-wrapper\">[vc_row][vc_column width=&#8221;1\/2&#8243;][vc_single_image image=&#8221;10169&#8243; img_size=&#8221;full&#8221; onclick=&#8221;custom_link&#8221; link=&#8221;https:\/\/www.inesad.edu.bo\/download\/wp06_2020\/?wpdmdl=10167&#8243; css=&#8221;.vc_custom_1601317930429{border-radius: 2px !important;}&#8221;][vc_column_text]\n<p style=\"text-align: center;\"><em>Click on the image above to download (<strong>PDF<\/strong>).<\/em><\/p>\n[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]\n<p style=\"text-align: justify;\"><strong>By:<\/strong><\/p>\n<p style=\"text-align: justify;\"><em>Samuel Alarcon Gambarte<\/em><\/p>\n<p style=\"text-align: justify;\">La Paz, september 2020<\/p>\n<p style=\"text-align: justify;\"><strong>Abstract<\/strong><\/p>\n<p style=\"text-align: justify;\">Since 2006, Bolivia began an intensive public investment program under its development plan. Fourteen years later, I analyze the role of this expansionary fiscal policy. In this regard, I develop a Dynamic Stochastic General Equilibrium Model for a small, open and developing country. Among the main results, I highlight that public investment has two roles in the Bolivian economy: positive externality and opportunity cost. First, an increase in public investment generates a positive externality allowing higher levels of economic growth as well as turns into a mechanism to cushion the negative effects of export price shocks. Second, the intensive use of resources for public investment has a crowding out effect on private investment, and deteriorates the public finances in the medium term with the increase of both public debt and fiscal deficit.<\/p>\n<p style=\"text-align: justify;\"><strong>Keywords:<\/strong> Public investment, fiscal policy, business cycles, DSGE.<\/p>\n<p style=\"text-align: justify;\"><strong>JEL Classification: <\/strong>E62, H5, E32.<\/p>\n[\/vc_column_text][\/vc_column][\/vc_row]\n<\/section>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column width=&#8221;1\/2&#8243;][vc_single_image image=&#8221;10169&#8243; img_size=&#8221;full&#8221; onclick=&#8221;custom_link&#8221; link=&#8221;https:\/\/www.inesad.edu.bo\/download\/wp06_2020\/?wpdmdl=10167&#8243; css=&#8221;.vc_custom_1601317930429{border-radius: 2px !important;}&#8221;][vc_column_text] Click on the image above to download (PDF). [\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text] By: Samuel Alarcon Gambarte La Paz, september 2020 Abstract Since 2006, Bolivia began an intensive public investment program under its development plan. Fourteen years later, I analyze the role of this expansionary fiscal policy. In this &hellip;<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[255,523,45,432],"tags":[],"class_list":["post-13520","post","type-post","status-publish","format-standard","","category-macroeconomia","category-macroeconomics","category-documentos","category-working-papers"],"acf":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9wqBX-3w4","_links":{"self":[{"href":"https:\/\/www.inesad.edu.bo\/en\/wp-json\/wp\/v2\/posts\/13520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.inesad.edu.bo\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.inesad.edu.bo\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.inesad.edu.bo\/en\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.inesad.edu.bo\/en\/wp-json\/wp\/v2\/comments?post=13520"}],"version-history":[{"count":0,"href":"https:\/\/www.inesad.edu.bo\/en\/wp-json\/wp\/v2\/posts\/13520\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.inesad.edu.bo\/en\/wp-json\/wp\/v2\/media?parent=13520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.inesad.edu.bo\/en\/wp-json\/wp\/v2\/categories?post=13520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.inesad.edu.bo\/en\/wp-json\/wp\/v2\/tags?post=13520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}