Publications in English

IMPACT OF EXCHANGE RATE MOVEMENTS ON FOREIGN TRADE

Fecha de Publicación
Autores
Humberto Arandia Claure and Luis Fernando Laura Garzofino
BOLIVIAN ECONOMIC RESEARCH PAPERS Vol. 2(2), 2018 December
Palabras claves
Marshall-Lerner
J-Curve
S-Curve
Real Devaluation
Trade Balance
CIEB_2018_Ing_Paper 3
Resumen

In an external context of declining terms of trade since 2011, which gained momentum mainly in 2014, many economies recorded strong devaluations in order to improve their competitiveness. Within this framework, the present paper uses various statistical techniques to analyze the impact of variations in the real exchange rate on foreign trade, using the approaches of the Marshall-Lerner condition, and the “S” and “J” Curves according to the literature and international empirical experience for the case of Bolivia.

RETHINKING FISCAL RULES IN THE REGION

Fecha de Publicación
Autores
Samuel Alarcón Gambarte, Pablo Cachaga Herrera and Martin Vallejos Tarqui
BOLIVIAN ECONOMIC RESEARCH PAPERS Vol. 2(2), 2018 December
Palabras claves
Policy
Terms of Trade
Economic Cycle
Fiscal Rules
CIEB_2018_Ing_Paper 2
Resumen

In recent years, Latin America has experienced significant fluctuations in its terms of trade. In this context, the countries subject to fiscal rules failed to fully mitigate the impact of adverse external shocks on their economies through the use of fiscal policy. In this sense, using an SVAR model, we found that, in the face of negative shocks in the terms of trade, the fiscal rules applied by the South American countries do not necessarily guarantee the effectiveness of the fiscal policy to stabilize the business cycle fluctuations.

DETERMINANTS OF ECONOMIC GROWTH IN BOLIVIA

Fecha de Publicación
Autores
Julio Humérez Quiroz
BOLIVIAN ECONOMIC RESEARCH PAPERS Vol. 2(2), 2018 December
Palabras claves
Economic Growth
Determinants
Panel Data
CIEB_2018_Ing_Paper 1
Resumen

The Bolivian economy has recorded an important rhythm of economic growth in recent years, particularly between 2006 and 2014. The challenge facing the country is to enhance and sustain the growth rate of the economy in order to improve the living conditions of the population. In this paper an approximation of the determinants of economic growth is made using estimates of growth regressions based on the Barro (1991) methodology with regional panel data (departmental level) for years 1993-2014.