Publications in English

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.

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.

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.