Kiel Working Papers, Kiel Institute for World Economics
No 1031:
Macroeconomic Adjustment in Bolivia since the 1970s: Adjustment to What, By Whom, and How? Analytical Insights from a SAM Model
Luis Carlos Jemio
Abstract: This paper discusses alternative adjustment patterns in
Bolivia over the last three decades using a SAM-based model that explicitly
separates formal from informal activities, includes separate accumulation
balance adjustments for different economic agents, differentiates closures
by periods of time, and incorporates balances for all sectors of the
economy. It is argued that both, fluctuating capital inflows and terms of
trade as well as the stabilization policies and the structural reforms,
affected different groups differently. Moreover, the various adjustment
patterns followed by the groups have determined the direction of adjustment
at the macroeconomic level. Thus, macroeconomic adjustment in Bolivia has
been the outcome of sectoral adjustments and of the interactions among
different agents through the diverse markets they operate in.
Keywords: Macroeconomic adjustment, Social Accounting Matrix, Bolivia; (follow links to similar papers)
JEL-Codes: E6; E65; C68; O54; (follow links to similar papers)
51 pages, March 2001
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