BOLIVIAN PUBLIC FINANCES, 1882-2010. THE CHALLENGE TO MAKE SOCIAL SPENDING SUSTAINABLE*

José Peres-Cajías

Revista de Historia Económica / Journal of Iberian and Latin American Economic History, 2014, vol. 32, issue 1, 77-117

Abstract: This paper offers a long-term comparative study of Bolivian public finances using a new detailed database. First, it shows that Bolivian government revenues and expenditures were particularly small and volatile until the 1980s. Second, it stresses that, whereas the relative importance of social expenditure has grown constantly since the late 1930s, public revenues have always had an unbalanced structure. Finally, it confirms that budget deficits have been constant, at times reaching levels that were especially damaging for the overall economy. This suggests that the potential redistributive impact of Bolivian public finances was not necessarily (or not only) hindered by the lack of an explicit commitment towards redistributive expenses, but by an extreme vulnerability in the revenue side. Este trabajo ofrece un estudio comparativo y de largo plazo de la hacienda pública boliviana mediante una base de datos desagregada. En primer lugar, muestra que los ingresos y gastos públicos fueron bajos y volátiles hasta los 1980s. En segundo lugar, demuestra que mientras la importancia relativa del gasto social se incrementó desde finales de los 1930s, los ingresos públicos mantuvieron una estructura desequilibrada. Finalmente, confirma que los déficits presupuestarios fueron constantes, llegando a alcanzar algunas veces niveles perjudiciales para el resto de la economía. Ello sugiere que el impacto redistribuidor de la hacienda pública boliviana no estuvo necesariamente (o no solo) restringido por la falta de apoyo explícito a gastos redistributivos, sino por una vulnerabilidad considerable en los ingresos.

Date: 2014
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