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Title: Fiscal policy and economic growth: a simulation analysis for Bolivia
Other Titles: Política fiscal y crecimiento económico: un análisis de simulación para Bolivia
Authors: Machicado, Carlos Gustavo
Estrada, Paúl
Issue Date: Dec-2012
Publisher: Paúl Medina
Citation: C. Machicado and P. Estrada, Fiscal policy and economic growth: a simulation analysis for Bolivia, Analítika, 4 (2012), pp. 57–79
Series/Report no.: 7;1
Abstract: This paper develops a dynamic stochastic general equilibrium (DSGE) model to analyze the growth effects of fiscal policy in Bolivia. It is a multi-sector model with five representative sectors for the Bolivian economy: Non-tradables, importables, hydrocarbons, mining and agriculture. Public capital is included as a production factor in each of these sectors. The model is calibrated and a number of interesting scenarios are simulated by modifying each of the available fiscal policy instruments. In particular, we analyze the sustainability of Bolivian social policy based on government transfers to households along with the short- and long-run implications of fiscal policy for growth and welfare. We find that fiscal policy alone is unable to generate high rates of growth: it must be accompanied by an efficient provision of public capital and productivity boosts in the economic sectors.
ISSN: 1390-6208
Appears in Collections:Indicadores económicos

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