After the economic reforms that followed the National Revolution of the 1950s, Bolivia seemed positioned for sustained … and a fixed exchange rate policy during the 1970s led to a debt crisis that began in 1977. From 1977 to 1986, Bolivia lost … almost all the gains in GDP per capita that it had achieved since 1960. In 1986, Bolivia started to grow again, interrupted …

By any standard, Bolivia's economic crisis in the 1980's has been extraordinary. Like its neighbors. Bolivia suffered … 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 …