Bolivia has enjoyed in the past four years the effects of the bonanza in international markets for its commodity exports, mainly hydrocarbons. The policy question is then how to intertemporally maximize (and internalize) the benefits of this good fortune. The central proposition is that...

This paper examines the new Bolivian Constitution (NBC), promulgated in February 2009, from the viewpoint of the new economic institutionalism. The NBC fixes the rules conducive to the establishment of a "plural" economic organization. These rules are eclectic, yet they convey a state-led...