Publications in English

Can aggregate demand policies bring about economic growth in the long term? What is the impact of a better resource distribution on long-term economic growth in Bolivia? These questions are analyzed within the framework of a Kaleckian model of economic growth to make an empirical study of the relationships between the aggregate demand, distribution and growth. For estimating the structural behavior equations of the prevailing regimes in the Bolivian economy, Bayesian methods were used.

This research paper examines whether the expansion of the degree of bolivianization of the financial system has implications in terms of a greater effectiveness of the monetary policy. In this regard, an estimation is made of the function associated to the liquidity of the financial system, as the operational objective of the Central Bank of Bolivia’s monetary policy. The explanatory variables considered are the interactions between the instruments of the monetary policy, which are the Open Market Operations and the monetary regulation rate, with bolivianization of the financial system.

This paper analyzes the performance of fiscal policy in Bolivia in years 2003-2015. To this end, the structural fiscal balance and the fiscal impulse are calculated with the aim of characterizing the expansive or contractive nature thereof and determining whether the fiscal policy in recent years has been procyclical or countercyclical relative to evolution of the economic cycle. The findings suggest that the fiscal policy in Bolivia was contractive over years 2003 to 2008 and expansive in the period 2009-2015.