Abstract

MERCADO, Alejandro F.; LEITON, Jorge G.M.  and  CHACON, Marcelo F.. El crecimiento económico en Bolivia (1952-2003). rlde [online]. 2005, n.5, suppl.1, pp.9-42. ISSN 2074-4706.

Since 1952 to 2003, the economic performance of Bolivia revealed that the economic growth is led by a trend behavior over the cycle. This result points out to the discretional behavior of the economic policies that diminishes the effect of fiscal and monetary policies on the country's economic growth. Therefore, the estimation of the long run Natural Growth Rate for the Bolivian economy becomes important and the results obtained for the 1990-2003 period, show a yearly long run natural growth of four per cent. Moreover, within the short run analysis, controlling for shocks in the economy, on average the Bolivian economy should return to the long run equilibrium within five quarters. Finally, all the results point to strong rigidities that the Bolivian economy faces against economic growth.

        · abstract in Spanish     · text in Spanish     · Spanish ( pdf )