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Title:Effects of the Global Financial and Economic Crisis on the Bolivian economy: A CGE approach PDF Logo
Authors:Cicowiez, Martin
Machicado, Carlos Gustavo
Issue Date:2010
Series/Report no.:Development Research Working Paper Series 2010/10
Abstract:This paper analyses the impact of the Global Financial Crisis on the Bolivian economy. The PEP 1-1 Standard Model has been employed to analyze the effects of a reduction in (i) the world export prices of mining and agriculture, (ii) the world demand of textiles, and (iii) transfers to households (i.e., remittances) from abroad. The model has been calibrated to a new 2006 SAM for Bolivia. The households have been disaggregated according to their location (urban and rural) and ethnicity (indigenous and non-indigenous). The factors of production have been disaggregated into skilled and unskilled labor, capital, and natural resources. Not surprisingly, our results highlight the relevance of the decrease in the export price of natural gas in explaining the negative effects of the Global Financial Crisis.
Subjects:Computable General Equilibrium Model
Financial Crisis
Forecasting and Simulation
JEL:C68
G01
E17
Document Type:Working Paper
Appears in Collections:Development Research Working Paper Series, Institute for Advanced Development Studies (INESAD)

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