Bolivia's Economic Crisis

Juan Antonio Morales and Jeffrey Sachs

No 2620, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: By any standard, Bolivia's economic crisis in the 1980's has been extraordinary. Like its neighbors. Bolivia suffered from major external shocks, but the extent of economic collapse in the face of these shocks (including a hyperinflation during 1984-85) suggests that internal factors as well as external shocks have been critical to Bolivia's poor economic performance. One major theme of our work is that the recent economic crisis in Bolivia is a reflection of political and economic conflicts in Bolivian society that have undermined the development process throughout this century. While major reforms have been begun by the present government, many of the deepest problems in Bolivian society that contributed to the crisis remain unresolved.

Date: 1988-06
Note: ITI IFM
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Published as Developing Country Debt and Economic Performance: Country Studies - Argentina, Bolivia, Brazil, Mexico. Volume 2, University of Chicago PRess, March 1990.
Published as Bolivia's Economic Crisis , Juan Antonio Morales, Jeffrey D. Sachs. in Developing Country Debt and the World Economy , Sachs. 1989

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